Crypto’s Correlation With US Stocks Nears Record in Fed Fallout

-- Digital assets and US stocks are moving more in tandem than at almost any time in the past, based on a correlation study, signaling that the macroeconomic variables driving equities are also shaping the crypto market.Belfast’s Grand Central Station Creates New Era for Northern Ireland’s Public TransportA 40-day correlation coefficient for a gauge of the largest 100 digital assets and the S&P 500 Index is at about 0.67, a level exceeded only in the second quarter of 2022 when it topped 0.

“We view the speakers as being more important than the PCE inflation data as it’s really the FOMC reaction function that is key at the moment that the market is trying to ascertain,” said Sean McNulty, director of trading at liquidity provider Arbelos Markets.Bitcoin, the largest cryptocurrency, rose less than 1% to $63,480 as of 7:38 a.m. Monday in New York amid modest gains across most major digital tokens. The advance came alongside a climb in US equity futures.

Xinhua Silk Road: CEIS unveils report to better interpret "Xi'an experience" in developing China-Europe Railway Express services Hudson RPO Celebrates 16 Consecutive Years on HRO Today’s Baker’s Dozen List of Top Global RPO Providers

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

No shelter for traders as stocks, cryptos, and gold correct lowerThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Fuente: KitcoNewsNOW - 🏆 13. / 78 Leer más »

Gold shines as stocks and cryptos slide, traders bet on 4 rate cuts in 2024The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Fuente: KitcoNewsNOW - 🏆 13. / 78 Leer más »

Cryptos, stocks, and gold trend higher as markets look to recover from last week’s routThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Fuente: KitcoNewsNOW - 🏆 13. / 78 Leer más »

Cryptos and stocks volatile ahead of presidential debate, CPI dataThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Fuente: KitcoNewsNOW - 🏆 13. / 78 Leer más »

Cryptos dip, stocks mixed as debate for 25 or 50 bps rate cut heats upThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Fuente: KitcoNewsNOW - 🏆 13. / 78 Leer más »

Asian stocks mixed after Wall Street extends losses as technology and energy stocks fallHONG KONG (AP) — Asian markets were mixed Thursday following a global sell-off a day earlier, as Wall Street declined in the technology, energy and other...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »