Bitcoin Correlation With Macro Remains Strong, Despite Stability
The Bitcoin correlation with the macro markets reached new highs in 2022. This saw the price of the digital asset, and the entire crypto market by extension, follow the movement of the stock and equities market very closely. There were forecasts that the cryptocurrency would begin to decouple from the macro market as time went on but data shows that the correlation still remains very high even now. Following The Macro Market One of the most prominent ways that the macro market and the bitcoin correlation have shone through has been during important events like the CPI data releases. The....
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Bitcoin has pushed seriously higher over the past few days despite some mixed performance in the S&P 500. The leading cryptocurrency is up around $2,000 over the past seven days, having rallied as high as $13,250 after bottoming at $11,200 last Thursday. Prominent macro analyst Raoul Pal expects that BTC will continue to outperform other macro markets in the future. Bitcoin to Decouple from S&P 500, Dollar: Prominent Macro Analyst Pal recently went as far […]
It can no longer be denied that the price of bitcoin is being heavily influenced by the macro environment. The stock market correlation had hit a new all-time high earlier in the year, and the crypto market is yet to decouple from it. Given this, bitcoin investors would do well to react accordingly and pay attention to the stock market for a possible forecast of where the bitcoin price may be headed, and here are some reasons why. Institutional Investors Are Here The call for institutional adoption had been loud throughout the last few years, and these big players had actually begun to....
During a time when money has become more difficult to come by for many, and the fiat monetary system is on the brink of collapse, Bitcoin might be the best chance at protecting wealth. One CEO of a risk management firm that educates investors on how to protect capital, claims that the leading cryptocurrency by market cap “remains the best short-term macro correlation” versus a “devalued dollar.” Here’s what that could mean and how that […]
Data shows the Bitcoin correlation with the US stock market has remained at a high value recently as it saw an increase during the last week. Bitcoin Correlation With Stock Market Observed Slight Growth In Past Week According to the latest weekly report from Arcane Research, BTC’s correlation with NASDAQ and S&P 500 is currently […]
Bitcoin’s growing correlations with gold, S&P 500 and Nasdaq 100 indicate that investors see BTC as a “relative safe haven,” BofA strategists wrote. Despite the ongoing cryptocurrency bear market, investors have been increasingly looking at Bitcoin (BTC) as a safe haven, a new study suggests.The rise in correlation between Bitcoin and gold (XAU) is one of major indicators demonstrating investors’ confidence in BTC amid the ongoing economic downturn, according to digital strategists at the Bank of America.Bitcoin’s correlation with gold — which is commonly viewed as an inflation hedge — has....