Macro Factors Drive Bitcoin S&P 500 Correlation to 23-Month Highs
Bitget2024/09/10 21:31
Bitcoin's correlation with the S&P 500 has risen to 0.67, a nearly two-year high, due to macroeconomic factors. Recently, Bitcoin price fell 10% due to weak US jobs data, before partially recovering to close down 3% on a weekly basis. The upcoming U.S. CPI data, as well as the Federal Open Market Committee meeting on 18 September, are expected to further influence the crypto market
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