Overview
- Binance Research reports a reversal since 2024 in how bitcoin responds to global interest-rate moves.
- Its Global Easing Breadth Index, which tracks 41 central banks, shows correlation flipping from +0.21 before spot ETFs to -0.778 after.
- The study links the change to spot bitcoin ETFs bringing in institutional buyers who build positions months before policy shifts.
- The findings surface as rising oil prices and the war in the Middle East raise stagflation worries and unsettle rate expectations.
- The authors describe a correlation rather than causation and say crypto policy progress and institutional fund flows may now matter more than easing itself.