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:个股)
- ·如何应对市场行情暴跌?
- ·巴菲特的 9 条重要投资经验
- ·火币交易额
- ·Polygon:未来几周对 Polygon zkVM 的优化预计会将费用降低约 20%
- ·火币网以太坊
- ·股票被st了意味着什么
- ·固定资产清理是什么科目
- ·晚报|国外出现新型盗币方式:共享充电宝植入恶意程序窃取私钥;Wb3 内容版权公司 Story Protocol 完成 2930 万美元种子轮融资,a16z Crypto 领投
- ·分析师预测:标普500指数暴跌50%背景下,比特币或飙升至60万美元
- ·莱特币总共多少个-莱特币总共多少个币
- ·库神钱包多少钱一个
- ·Sui生态Haedal发布代币经济学,初始流通量占19.5%
- ·火币赚钱
- ·闪电借款安全吗?我想借钱但是怕被骗。
- ·火币网跑路
- ·当前link的多头需要克服关键障碍才能实现潜在的7%反弹
- · 欧亿交易所怎么样。
- · 欧易正规
- · okx交易所app官网链接
- · 加密货币交易所
- · 易欧app官网下载
- · 虚拟货币交易
- · 亿欧app下载
- · 欧易开户
- · 亿欧交易所下载
- · okx交易所app官网