During bullish phases, many assets in the cryptocurrency market often exhibit high positive correlations.

In my experience, this makes sense as positive correlations during bullish phases mean that various cryptocurrencies tend to move together, reflecting an overall positive sentiment in the market. This understanding can guide traders in adopting strategies that capitalize on the collective upward momentum.

Traders can use assets with low or negative correlations as a hedge during bearish phases.

I think using assets with low or negative correlations as a hedge during bearish phases is a smart risk management approach. By doing this, traders can potentially offset losses in their riskier holdings and protect their overall portfolio value in times of market downturns.

Long-term trend analysis of STEEM and Ethereum correlations provides a macro-level perspective.

In my opinion, considering long-term trend analysis for STEEM and Ethereum correlations is crucial. This broader perspective helps traders form more informed and adaptive strategies, especially for those with longer-term investment intention, by identifying sustained trends or shifts in correlation patterns over time.

Good luck .