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：基金工具)

• ·解读 Messari 代币解锁报告：新增 5% 的流通量会显著影响币价，11 月第 1 周将出现最大解锁
• ·霭华押业信贷(01319)10月31日斥资38.87万港元回购180.8万股
• ·50万BTC即将暴跌？比特币波动性面临新考验！
• ·10月31日嘉实事件驱动股票净值下跌0.27%，今年来累计下跌9.12%
• ·火币网等级
• ·加密资产交易软件 加密资产交易软件更新版本v7.1.6
• ·火币网杜均
• ·Fil币最新价格实时更新具体解答和fil币价格今日交易最新细致分析
• ·比特币见顶信号显现，系统性风险走高
• ·qtum钱包升级
• ·解析AAVE、Pendle、Ethena 的PT杠杆收益飞轮的机制和风险
• ·snt总量是多少
• ·先增员还是先申报工资
• ·兆邦基生活(01660)：许楚胜辞任执行董事
• ·捷信可以申请现金贷吗？具体怎么做。
• ·btn数字币平台