ETH has outperformed BTC in terms of correlation with the S&P 500.
Since mid-August, ether has established a closer correlation with the S&P 500 index, overtaking BTC in correlation. (Second picture)
I think it's no secret that crypto correlates with the Nasdaq and S&P 500 stock indices. And this fact is used by traders during market analysis.
Most likely the correlation will not subside until the ETH merger, which is due on September 15, and , the volatility of ETH and BTC will increase as the fork date approaches.
Also, ETH supply volume hit an 8-month low of 16,157,291,008 ETH today. Investors are slowly buying in anticipation of the fork.
