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：财经专题)

• ·hx币价格行情
• ·平安银行信用卡取现利息怎么算？取现利息是多少？
• ·Barclays upgrades Coinbase and Robinhood ratings, citing mature business models
• ·微粒贷还款后会自动提升额度吗？
• ·特朗普与加密精英的晚宴：1.48亿美元入场券背后的权力游戏
• ·应流股份收盘涨5.48%，主力资金净流入3341.11万元
• ·XRP未来价格预测：怀疑论者或将错失暴涨良机
• ·10月31日中欧电子信息产业沪港深股票A净值增长0.83%，近3个月累计上涨21.16%
• ·DASH币价格今日行情-DASH币价格今日行情
• ·新型工业化概念31日主力净流出19.02亿元，上海电气、工业富联居前
• ·为什么说 Web3 离 Mass Adoption 不远了？
• ·10月31日中银量化选股混合发起C净值下跌0.42%，近1个月累计下跌2.52%
• ·特朗普放弃对欧盟征收50%关税的重磅消息，比特币涨势出现动摇
• ·10月31日交银启明混合A净值增长0.64%，近3个月累计上涨16.23%
• ·卡塔尔坚决反对加密货币交易，但大力支持资产代币化
• ·云南锗业收盘涨10.01%，主力资金净流入1.11亿元