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:经济数据)
-
但是对于使用cms系统需要懂简单的代码,不然在套用模板过后不懂如何修改样式。...[详细]
-
10月31日摩根领先优选混合C净值增长0.19%,近3个月累计上涨0.54%
从2B来讲,并不是看你有多大的创意,而在于企业管理,里面有各种业务和系统,需要很多年的积累。...[详细]
-
那么,教育类网站建设从哪些方面考虑,又该如何做运营。...[详细]
-
meme币交易中心手机app最新版 meme币比安卓手机平台软件
除了靠创始人的奇思妙想,还离不开一众资本大佬们的资本支持。...[详细]
-
“保持生产力”会让你找到你真正注定该做的事情,就如水因为重力流向地处一般。...[详细]
-
SEC推迟对Canary Capital提交的莱特币ETF审批决定
3.掌握行业发展动向和竞争对手动态,制定相对应的运营策略。...[详细]
-
36氪创始人刘成城 内容创业的天花板,在于品牌 刘成城(36氪):内容创业发展的临界点,在于媒体能否成为一个品牌。...[详细]
-
昨日阿里妈妈举办了第二届媒体联盟峰会,今年阿里妈妈通过打造“内容联盟”,将更多内容生产转化成商业机会。...[详细]
-
我更欣慰地看到全球合伙人队伍的持续壮大:以启宇、晓亮为代表的一起摸爬滚打长大的本土小伙伴们,以及以Jorge、Henri和Franz等为代表的海外伙伴、二十多位全球合伙人已成为支撑复星未来跨代、全球成...[详细]
-
10月31日交银内核驱动混合净值下跌0.44%,近1个月累计上涨0.8%
”川上量生说这话时信心满满,但却绝非言过其实。...[详细]