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：商业观察)

• ·日本首席贸易谈判代表放话：若不取消关税，绝不急于达成协议！
• ·10月31日银河智造混合A净值增长0.13%，近3个月累计上涨18.04%
• ·51分期信用管家可分期额度什么意思？
• ·OKX|易欧OKX交易所PC版下载指南，安全、便捷、多功能的数字货币交易平台
• ·单身职工住房公积金贷款的条件是什么？单身可以申请公积金贷款吗？
• ·10月31日华泰保兴价值成长C净值下跌0.04%，近1个月累计下跌4.1%
• ·在淘宝卖股票
• ·10月31日长城优选招益一年持有混合A净值增长0.21%，今年来累计上涨2.61%
• ·狗狗币是用什么挖的 狗狗币用啥挖
• ·儿童意外保险如何办理报销手续？需要准备哪些材料？
• ·住房公积金贷款查询进度的方法是什么呢？我想查一下自己的审批程序到哪了。
• ·10月31日长安裕腾混合A净值下跌0.01%，近6个月累计下跌0.16%
• ·详细了解BE币是什么币种？BE币怎么样？
• ·10月31日交银恒益灵活配置混合A净值增长0.03%，今年来累计上涨0.68%
• ·闪电借款提额的方法有哪些？我的额度太低了，求大佬教我提额。
• ·syn币前景-分析SYN币的未来发展潜力