Analysis: After the Federal Reserve's interest rate cut, the positive correlation between cryptocurrency and stocks has further strengthened
A new correlation study by Bloomberg shows that the connection between cryptocurrencies and U.S. stocks is now closer than almost any time in recent years, with the positive correlation between cryptocurrencies and the SP 500 index rising to its highest level since mid-2022.
The report points out that this increasing positive correlation indicates that macroeconomic factors, especially after last week's Federal Reserve rate cut, are significantly affecting these two markets. (TheBlock)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Analysts: Capital withdrawal from the crypto market ushers in a period of vulnerability
Cautious Remarks from Federal Reserve Officials Spark Uncertainty Over Rate Cut Expectations
Alibaba collaborates with JPMorgan to develop a tokenized payment system