KAS/BTC 30-day correlation is back to 0.81, firmly in "moves with Bitcoin" territory. The interesting part is what happened in between. Correlation bottomed near 0.2 in mid-April, a window where KAS had room to trade on its own catalysts. It didn't, price kept grinding toward $0.030 instead of decoupling higher. Now re-coupled above the 0.7 band, KAS is once again a BTC-beta trade. Independent upside likely needs a Kaspa-specific catalyst, Toccata can be the obvious one.
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