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：私募资讯)

• ·龙庆峡什么山上什么温度
• ·10月31日国泰通利9个月持有期混合A净值增长0.18%，近3个月累计上涨2.75%
• ·捷信贷分期付款利息是怎么计算的？
• ·2016股票买什么好
• ·defi币怎么买 defi币哪里买
• ·10月31日华富数字经济混合A净值增长0.77%，近3个月累计上涨14.76%
• ·拍拍贷逾期会被起诉吗？不是很了解。
• ·微币今日行情
• ·2017挖什么币赚钱 2020挖什么币最赚钱
• ·国寿保险是什么意思？详细解读一下好吗？
• ·火币深度
• ·Guild of Guardians (GOG)的购买指南与上线交易所推荐
• ·火币网api
• ·请问办理工商银行现金分期的条件是什么呢？
• ·股票账户充值
• ·20金桂02：下调票面利率490个基点至2.60%，回售登记期11月5日至11日