Bitfinex Alpha: Risk appetite has returned to BTC
According to a Bitfinex Alpha research report, risk assets generally rose as Federal Reserve Chairman Jerome Powell made comments in Jackson Hole suggesting a possible rate cut. BTC soared to $65,000. This statement caused the dollar to fall, boosting the stock market. The SP 500 index is close to its all-time high. Bitcoin, which had previously lagged behind the stock market, rose sharply by 6.06% in one day, marking the second largest single-day gain since May. The rise occurred against the backdrop of Bitcoin's growing positive correlation with the U.S. stock market. Since hitting a low in early August, Bitcoin has been relatively weak relative to stocks. Friday's price surge also witnessed a sharp rise in correlation, indicating that risk appetite has returned to the market.
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
US President Donald Trump says was ready to strike Houthis in Yemen, then pulled back
ZAMA gains traction as 24h trading volume surges
Global economy risks fragmentation! Australia bets on AI as a new growth engine
In a potentially more fragmented and unpredictable global economy over the next 40 years, Australia relies on the deployment and development of artificial intelligence (AI) to drive economic growth.
Europe’s aviation fuel “red alert” in the fourth quarter: Shortfall will reach 510,000 barrels/day, South Korea’s exports surge to a four-year high to urgently fill the gap
According to analysts and shipping data, Europe will face a supply gap for aviation fuel in the fourth quarter, even as it turns to distant suppliers such as South Korea. South Korea's aviation fuel exports to Europe in September are set to reach a four-year high.
Crypto prices
More
