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:货币)
- ·火币网李林
- ·Kakarot 三阶段路线图:将如何赋能 Starknt 和以太坊生态
- ·资产负债表没有交易性金融资产怎么办
- ·通过扣缴义务人申报是什么意思
- ·MTP矿机价格
- ·rp正在寻找一个修复其封闭系统的机会
- ·杭州什么天气穿什么-杭州什么天气穿什么?
- ·7.12币圈早资讯汇总:以太坊Layr 2部署至主网 APT解锁了约454万枚代币
- ·在南宁市,住房公积金贷款所需哪些材料?
- ·WEEX 宣布与传奇足球明星迈克尔·欧文达成合作
- ·以太坊第 1 层网络收入骤减,原因何在?
- ·请问快钱钱包还款安全吗?我想还款但是害怕信息泄露了。
- ·活力币最新行情-活力币最新行情分析
- ·住房公积金网贷-住房公积金网贷有哪些
- ·小规模纳税人转一般纳税人的条件是什么
- ·RootData 每周热搜榜:StarryNift、Opsid、zkSync 位居前三
- · 数字货币交易所
- · 亿欧app下载
- · 欧亿交易所怎么样。
- · oe交易所app下载
- · 虚拟货币交易平台排名
- · 亿欧交易所下载
- · 虚拟货币交易
- · okx交易所app官网链接
- · 全球三大虚拟货币交易平台
- · 易欧app官网下载