Market Wrap: Bitcoin Finishes the Week in Positive Territory Again

Ten-year Treasury yield daily close: 2.78%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atAs we close the week, let’s look at how markets performed overall.BTC and ETH outperformed traditional asset classes on the week, but still trail when looking at year-to-date performance.

For context, we use the correlation coefficient to examine the strength of the relationship between the price movements of different assets. A correlation close to 1 indicates a strong relationship between assets, while a correlation of zero indicates no relationship. Moreover, a correlation of -1 indicates a complete inverse relationship between the assets in question.

What we’ve noticed over the last 30 days of trading is that while BTC and ETH remain strongly correlated to each other , the correlation between cryptocurrencies and traditional assets is beginning to return to levels witnessed earlier this year.An indicator that we broached earlier this week which bears reexamination is the current level of BTC funding rates. As a reminder, funding rates represent payments to traders that are long or short BTC.

Note that we offer no exotic formula or tools of prognostication in voicing our expectations for FOMC decisions. We essentially monitor what they say, using tools like the FOMC “dot plot” as a guide. For context, the FOMC dot plot is simply a record of each Federal Reserve official's projection for the Fed Funds rate. We expect that rates will increase to 2.5% next week and approach 3.5% by the end of 2022. To the extent that this remains unchanged, we anticipate that the price of BTC already reflects this data.Synthetix’s SNX Rises 14% on Liquidity Deal Renewal:

GWilliamsJr_CMT JimmyHe32 I think the growth should continue in the near future

GWilliamsJr_CMT JimmyHe32

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Ethereum Technical Analysis: ETH Rebounds, Climbing to Over $1,600 on Friday – Market Updates Bitcoin NewsEthereum was back in the green on Friday, as bulls returned to action following yesterday’s crypto selloff. I don't know we ain't talkking about this? 2k incoming Airdrop available now at bigest event! 👉 MATICSHOW6
Source: BTCTN - 🏆 531. / 51 Read more »

Bitcoin Slumped $1.5K as Tesla Sold Almost $1B in BTC (Market Watch)Bitcoin retraced by $1,500 as Musk's Tesla sold $936M worth of BTC. The altcoins are also in the red.
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Bitcoin Lightning Network capacity rises to a new high amid bear marketThe constant growth of the Bitcoin Lightning Network (LN) continues to accelerate after attaining another milestone undeterred by the ongoing... Continue reading
Source: CryptoPanicCom - 🏆 563. / 51 Read more »

Bitcoin, Ethereum Technical Analysis: BTC Falls, as Tesla Sells 75% of Its Holdings – Market Updates Bitcoin NewsBitcoin was trading lower in today’s session, as it was revealed that Tesla had sold 75% of its holdings in the cryptocurrency. Limited time offer! 👉 MATICSHOW46 Hold everyone, HOLD‼️‼️‼️‼️‼️ Time to sell bitcoin dinosaur 🦖
Source: BTCTN - 🏆 531. / 51 Read more »

Podcast: What Bear Market?! Fresh Prediction That Bitcoin Will One Day Hit $500,000 | CoinMarketCapOn today's CoinMarketRecap with Connor Sephton, Bitcoin breaks through $23,500… but is it going to last? 🎢 GroveToken HZM COIN always keep your eyes on it because it will simply amaze everyone..go Buy HZM COIN💥💥 malarab1 HZMCoin HZM COIN always keep your eyes on it because it will simply amaze everyone..go Buy_HZM_COIN🚀 malarab1 HZMCoin
Source: CoinMarketCap - 🏆 290. / 63 Read more »

5 things to know before the stock market opens ThursdayHere are the most important news items that investors need to start their trading day.
Source: CNBC - 🏆 12. / 72 Read more »