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：理财)

• ·流量新宠，比特币质押能否引领下一个流动性释放浪潮？
• ·元宝网zec钱包地址-元宝网去哪了
• ·甲骨文拟400亿美元购英伟达芯片支持OpenAI数据中心
• ·牛市启动？比特币逼近新高 两大巨鲸加仓 三大利好引爆行情
• ·进项税额转出余额月末怎么账务处理
• ·omisego发行价格-
• ·5 月 25 日以太坊价格预测：ETH 守住关键支撑位，多头捍卫 2,500 美元区域
• ·隔离认证什么意思 隔离验证
• ·无形资产和固定资产的有什么区别
• ·10月31日格林创新成长混合C净值增长0.76%，近3个月累计上涨27.9%
• ·股票跑道费-股票跑道费怎么算
• ·10月31日华安添益一年持有混合A净值下跌0.07%，近1个月累计上涨0.41%
• ·著名股票书籍
• ·火币UNi
• ·交易员James Wynn减持比特币多仓获利超1.6亿美元
• ·meme币苹果版官网下载app meme币app官方下载最新版