The read
Analysis of Oct 28, 2026, on data through Oct 28, 2026. Charts under each judgment are its evidence; sources are linked in the text.
- Crypto has missed the 2026 rally. Bitcoin was $80,056 in the week to Oct 26, 2026, 36% below its previous high, and ether 52% below its previous high, while US stocks are near records (Layer 8). Bitcoin peaked at $120,910 in the week to Oct 5, 2025. Its correlation with technology stocks is 0.35, higher than in 75% of weeks since 2015, so it trades partly as a leveraged technology bet rather than a hedge.
Bitcoin price
Dollars, weekly average, log scale.
Source: Coinbase.
Readings in this chart
Bitcoin and ether: how far below their previous highs
Percent below the highest price to date, weekly low.
Source: Coinbase.
Readings in this chart
Correlation of bitcoin with technology stocks
Correlation of daily returns of bitcoin and the Nasdaq Composite over the previous 90 shared trading days, weekly average. 1 means they move together; 0 means unrelated.
Source: Coinbase; Nasdaq.
Readings in this chart