Macroeconomic variables are affecting the cryptocurrency market, and the correlation with the US stock market is approaching historical highs
According to a correlation study, the trends of digital assets and US stocks are more synchronized than ever before, indicating that macroeconomic variables driving the stock market are also affecting the cryptocurrency market.
According to data compiled by Bloomberg, the 40 day correlation coefficient between the top 100 digital assets and the S&P 500 index is approximately 0.67, approaching the high of 0.72 reached in the second quarter of 2022. When the correlation coefficient is 1, it represents that the trends of each asset are completely synchronized, while -1 indicates a completely reverse correlation.
Last week, the Federal Reserve aggressively cut interest rates by 50 basis points, ushering in the expected monetary easing cycle. US stocks hit a historic high, and Bitcoin also broke through $64000.
For various traders, the upcoming release of US economic data is now crucial as they can search for clues about the extent and speed of potential further reductions in benchmark borrowing costs. Caroline Mauron, co-founder of Orbit Markets, a liquidity provider for digital asset derivatives trading, said:
At present, macro factors are driving the prices of cryptocurrencies, and this situation should continue throughout the loose cycle of the Federal Reserve, unless we see black swan events specific to the cryptocurrency sector
This week's focus is on comments from Federal Reserve officials and the release of the central bank's preferred inflation indicator - the Personal Consumption Expenditure Price Index (PCE Index). Sean McNulty, the head of trading at Arbelos Markets, a liquidity provider, stated:
We believe that the speaker's speech is more important than PCE inflation data, as the key that the market is currently trying to clarify is the FOMC (Federal Open Market Committee) response mechanism
Source: Bloomberg
(责任编辑:私募资讯)
- HEC数字货币价格
- 储蓄存款的风险是什么?如何理解其含义?
- 存货跌价准备可以税前扣除吗
- 10月31日嘉实物流产业股票A净值下跌0.47%,近1个月累计下跌4.15%
- 仅当满足某些条件时,Pendle 加密货币才能迫使价格上涨至 7 美元!
- yfi有多少字币
- 10大虚拟币交易平台_usdt交易平台下载
- comp币能涨到多少
- 2020怎么挖eth eth2.0怎么挖
- 10月31日永赢优质精选混合发起C净值增长0.28%,近3个月累计上涨8.82%
- 电子承兑什么时候申请支付
- 深入了解与下载欧意易交易所,全方位指南
- 火币比特币钱包
- 10月31日银华创新动力优选混合C净值增长0.46%,近3个月累计上涨17.33%
- 热币平台币
- 10月31日广发恒享一年持有期混合C净值增长0.30%,今年来累计上涨3.6%
- 广州公积金贷款能贷多少-广州公积金贷款能贷多少怎么计算
- 秒币平台
- 石家庄公积金初始密码-石家庄公积金初始密码多少
- 蚂蚁币价格
- 欧亿app官网正式版下载 views+
- 加密货币交易所 views+
- 欧易app官方下载入口 views+
- 数字货币交易平台app views+
- 十大虚拟货币交易平台app views+
- 虚拟货币交易平台有哪些 views+
- oe交易所app下载 views+
- 欧易正规 views+
- 易欧app官网下载 views+
- 数字货币交易app views+