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)
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