Cryptocurrency and Stocks Align as Macroeconomic Factors Influence Markets

Cryptocurrency and stock markets have shown a strong correlation following recent Federal Reserve interest rate cuts. Bloomberg reports a 0.67 correlation between the 100 largest digital assets and the S&P 500, the second-highest ever recorded.

Both markets are being driven by macroeconomic factors, with analysts predicting this trend will continue as long as the Fed maintains its easing cycle. Bitcoin has benefited, surpassing $64,000, while experts suggest that crypto’s link to traditional markets is likely here to stay.

Clever Robot News Desk 26^th September 2024