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:宏观研究)
- 酒店属于什么行业类别
- Playkey (PKT)怎么买?Playkey (PKT)在哪里买卖交易?
- 比特币k线图软件
- 重新审视加密交易:传统 TradFi 体系下的流动性革命新解
- 火币朱嘉伟
- Coinbase大规模漏洞事件:黑客窃取加密货币并向链上侦探ZachXBT发起挑衅
- 受托责任履行情况是什么意思
- 企业的运营费用包括什么
- 劳务公司个人所得税怎么申报
- 唐纳德·特朗普接待了 220 名顶级特朗普表情包持有者,但并非没有争议:以下是您需要了解的信息
- 上次该指标转为看涨时 以太坊价格上涨了 90%
- Tomo Wallet 创始人:言论自由的普罗米修斯与 Tomo 社交钱包的诞生
- 以太坊交易平台哪些值得下载 十大币圈常用的以太坊交易平台
- nano历史力价格
- okx交易所app官网 views+
- 十大虚拟货币交易平台app views+
- 全球三大虚拟货币交易平台 views+
- okx官方 views+
- 数字货币交易app views+
- 欧亿交易所怎么样。 views+
- 虚拟货币交易平台排名 views+
- okx交易所app官网链接 views+
- 0kx交易所官网 views+
- 易欧app官网下载 views+