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：时讯)

• ·Builder.ai因债权人扣押资金陷入破产程序，揭示AI投资热潮中的警示故事
• ·10月31日浦银安盛价值精选混合A净值下跌1.36%，今年来累计下跌8.62%
• ·火币网挖矿软件
• ·退还保费具体是怎样的操作？是什么意思呢？
• ·白云什么什么表示天气-白云什么什么表示天气的词语
• ·工业母机概念31日主力净流出14.07亿元，上海电气、格力电器居前
• ·比特波币价格
• ·金种子酒收盘跌0.16%，主力资金净流出2314.91万元
• ·51信用管家极速贷怎么样？
• ·比特币硬分叉币BPH怎么下载玩？比特币交易网站排名
• ·公对公不开票可以吗
• ·10月31日易方达成长动力混合C净值增长0.15%，今年来累计上涨24.75%
• ·申请的住房公积金贷款该如何还款呢？
• ·甘李药业收盘跌0.39%，主力资金净流出3209.68万元
• ·分公司缴纳印花税吗
• ·10月31日永赢成长远航一年持有混合A净值增长0.98%，今年来累计上涨12.46%