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)
- 11月去哪里旅游最合适-11月去哪里旅游最合适 5000元
- 10月31日汇添富行业整合混合D净值下跌0.65%,近1个月累计下跌4.6%
- 全球虚拟币交易平台app排行|国内什么平台购买虚拟币靠谱
- Avenir Crypto、MYX Finance 和 Deribit 联合主办 Quant CIO Executive Night 大获成功,行业领袖齐聚点亮 Token2049
- 圭臬是啥?规矩的标杆!圭臬是什么意思
- 承租人如何计算经营租赁的租金会计处理?
- 夜雨落花,春知多少?夜来风雨声花落知多少
- 10月31日长城优选回报六个月持有混合A净值增长0.10%,近3个月累计上涨0.05%
- DC(DC Nbtwork)是什么币?DC币总量有多少?
- 渴望币有什么用 渴望获取
- 通知怎么写?3分钟搞定!如何写通知
- 芝麻交易所区块链app下载-芝麻交易所ouyi区块链平台无毒版v6.5.0下载入口
- 国内正规RP官网地址下载_美国最好用数字币商城说明
- 10月31日国富匠心精选混合A净值下跌0.07%,近1个月累计下跌4.68%
- 小赢卡贷是哪里查征信?我自己也可以查么?
- 火币app
- 火币成本
- 10月31日嘉实内需精选混合C净值下跌1.30%,近1个月累计下跌4.81%
- 10月31日融通新机遇灵活配置混合净值增长0.11%,今年来累计上涨3.45%
- 10月31日农银中小盘混合净值下跌0.39%,近1个月累计下跌2.62%
- okx交易所app官网链接 views+
- 亿欧app下载 views+
- 易欧app官网下载 views+
- okx网页版 views+
- 加密货币交易所 views+
- OK交易所官网入口登录 views+
- okcoin下载官方app views+
- okx官方 views+
- 0kx交易所官网 views+
- 欧易交易所 电脑 views+