彭博社汇编的数据显示，加密货币和MSCI世界股票指数之间的相关系数接近0.6，为过去两年来的最高水平之一。该读数为1表示资产同步移动，而负1表示反向变动。这意味着这两个市场之间的走势正越来越相近。Source: Wall Street See
The correlation between cryptos and stock indices is increasing. As the market reacts to the August non-farm payroll data tonight, the price of cryptos may fluctuate accordingly. The market generally believes that the upcoming employment data will show positive signals, indicating the stabilization of the US economy.
The relationship between cryptos and the stock market is becoming increasingly tight, especially under the influence of recent economic data.
Data compiled by Bloomberg shows that the correlation coefficient between cryptos and the MSCI World Stock Index is close to 0.6, one of the highest levels in the past two years. A reading of 1 indicates synchronous movement of assets, while -1 indicates opposite movement. This means that the trends between these two markets are becoming more and more similar.
In other words, when the market reacts to the August non-farm payroll data tonight, the price of cryptos will also fluctuate. It is widely believed that the upcoming employment data will show positive signals and the US economy is tending to stabilize.
Tonight's non-farm data will be crucial in determining the price of bitcoin.
Investors are paying close attention to the upcoming US August non-farm payroll data. If the employment data performs poorly, it will mean that the US economy is in recession and the Federal Reserve may take more aggressive rate-cutting measures to stimulate the economy. Last month's unexpected weak employment report caused market volatility globally, and cryptos also plummeted.
Benjamin Celermajer, Co-Chief Investment Officer of Magnet Capital, said, "Bitcoin has always been highly correlated with stocks when facing macroeconomic events. The market sentiment has been 'quite bad' in the past two weeks, and $55,000 is a key support level for bitcoin worth paying attention to."
As of the time of writing, the price of bitcoin has fallen slightly to $55,588, about $17,000 lower than the historical high set in March. Smaller tokens like Ethereum and Solana have also seen slight declines. US single stock futures are volatile, indicating a cautious attitude in the market ahead of the August employment data.
Analysts point out that the inflow of funds from the US spot bitcoin exchange-traded fund (ETF) stimulated the rise in the price of bitcoin earlier this year, creating a wave of bull market, but this upward trend did not continue. Recently, investors have started to withdraw funds from the bitcoin ETF, causing the price of bitcoin to fall.
"The details of tonight's employment report will be the key." said Cici Lu McCalman, founder of blockchain consulting firm Venn Link Partners, "This data is enough to undermine bets on a rate cut by the Federal Reserve."
The current loose monetary policy of the Federal Reserve is generally considered to be favorable for speculative assets such as cryptocurrencies. Market analysts generally believe that the upcoming employment data will show positive signals, such as an increase in the number of hires or a decrease in the unemployment rate. This indicates that the economy is stabilizing after the growth panic caused by the July data.
Editor / jayden
