Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s Correlation
With US• Экономика » Финансы » Платежные средства » Доллар США Stock Markets Reaches 2-
Year High, What Does
This Mean
for BTC?
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s Correlation With US• Экономика » Финансы » Платежные средства » Доллар США Stock Markets Reaches 2-Year High, What
Does This Mean for BTC?
Author: Jordan Lyanchev
Last Updated Sep 28, 2024 @ 07:00
The last time the correlation between the asset classes was this high was
during the 2022 correction.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s correlation with Wall Street has been climbing for the past
several months and, earlier this week, hit a multi-year peak.
This comes at an intriguing time since a few of the largest and most prominent
US• Экономика » Финансы » Платежные средства » Доллар США stock market indexes charted new all-time highs this week.
BTC-Wall Street Correction Rises
The Fed• Экономика » Экономика США » Макроэкономика США » Федеральная резервная система США
• Объект организация » Организации по алфавиту » Организации на Фе » Федеральная резервная система США
• Соединённые Штаты Америки (США) » Экономика США » Макроэкономика США » Федеральная резервная система США s interest rate cut from last week didn t impact
positively just crypto as Wall Street headed north as well. Additionally, the
Friday US• Экономика » Финансы » Платежные средства » Доллар США macro data shows that inflation has slowed to 2.2% from August last
year. This came from the Personal Consumption Expenditures Price Index, which
some people believe is a more accurate inflation gauge for individuals.
The Dow Jones Industrial Average• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Биржи » Биржевые индексы » Промышленный индекс Доу-Джонса
• Объект организация » Организации по алфавиту » Организации на Нь » Нью-Йоркская фондовая биржа » Промышленный индекс Доу-Джонса reacted immediately with an increase from
41,921 to 42,616 to register a new all-time high. Despite retracing slightly
by the trading day s end, the Dow• Объект бренды » Бренды на d » Dow was still slightly in the green.
The S&P 500• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Биржи » Биржевые индексы » S&P 500 s performance was similar, as it pumped from 5,722 to
over 5,760 to paint a new ATH of its own before correcting to 5,738 at closing
bells.
The Nasdaq• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Биржи » Биржевые индексы » Nasdaq Composite failed to break its ATH marked in July and even finished
the day with a minor retracement.
At the same time, BTC s price surged past $66,500 on Friday for the
first time in two months. According to IntoTheBlock data, these developments
increased the positive correlation between Wall Street and bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, pushing
the metric to a two-year high.
$BTC s correlation with U.S• Соединённые Штаты Америки (США). stocks reached a two-year high this week,
a level that was only surpassed in the second quarter of 2022.
pic.twitter.com/in6YRZq2Iw
— IntoTheBlock (@intotheblock) September 27, 2024
When BTC New ATH?
CryptoPotato reported recently that bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s correlation with gold had
also increased to a multi-month peak. The yellow metal s price has been
on a roll as well in 2024, charting fresh peaks frequently. The latest was on
Thursday at just shy of $2,690/oz.
As such, the logical question arises: when will BTC break its March all-time
high of $73,800? With such a high correlation with assets that have done just
that in the span of a week, BTC remains more than 10% away from its own.
Historically, Q4 has been predominantly positive for the largest
cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, with an average return of roughly 90% in the past decade.
Moreover, October and November are the two most bullish months for BTC, which,
coupled with the aforementioned data, could mean that a new all-time high is
just around the corner.
SPECIAL OFFER (Sponsored) Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance Free $600 (CryptoPotato Exclusive): Use this
link to register a new account and receive $600 exclusive welcome offer on
Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance ( full details ).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this
link to register and open a 100 USDT-M position for free!
Tags: Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) Price Gold United States• Соединённые Штаты Америки (США)