CandleFocus Cryptocurrency and Stocks Show High Correlation Levels as Macroeconomics Start Driving Markets
2024-09-26
Author: Content Editor
A recent analysis by Bloomberg has found that the cryptocurrency and stock markets are showing a high correlation following the latest Federal Reserve interest rate cuts. This correlation, which indicates that both markets are being driven by the same macroeconomic variables, is at its second highest level in history. Despite claims that cryptocurrencies are uncorrelated assets, recent data suggests otherwise. The correlation is expected to continue as long as the Federal Reserve continues to cut interest rates. Experts believe that this correlation is here to stay and needs to be considered when constructing portfolios.
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