Correlation between cryptocurrencies and the US stock market approaches an all-time high
The indicator was 0,67 with a maximum possible 1
23.09.2024 - 15:45
424
1 min
0
What’s new? The correlation between cryptocurrencies and the US stock market approached a record value after the Fed cut its key rate. Thus, according to Bloomberg data, the 40-day correlation coefficient between the 100 largest cryptocurrencies and the S&P 500 index is about 0,67. The higher mark (0,72) was reached only once, in the second quarter of 2022.
What else is known? A value of “1” indicates that assets are moving uniformly, while “-1” signals a divergent movement of the cryptocurrency and equity markets.
A high direct correlation also signals that macroeconomic factors are significantly affecting cryptocurrency rates. At the moment, traders are tracking further actions of the US central bank.
For example, US stock indices reached all-time highs and bitcoin rose above $64 000 after the Federal Reserve began its expected monetary easing cycle last week, cutting rates by 50 basis points.
US economic data is now crucial for traders in both markets, as it provides insight into the possible scope and pace of further reductions in the underlying cost of credit.
This week’s focus will be on comments from Fed officials, as well as the release of the Personal Consumption Expenditures (PCE) index.
In addition, the positive momentum in the crypto market was supported by Vice President Kamala Harris’ announcement that if she wins the presidential election, she will promote increased investment in AI technology and the cryptocurrency sector.
Useful material?
Telegram 
Twitter Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Incidents
The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file
May 14, 2026
Crypto regulations
Authorities are introducing mandatory registration for companies handling cross-border crypto transactions
May 8, 2026
Incidents
According to Blockaid, the attack may have been carried out by the same hacker behind the 1inch Fusion V1 exploit.
May 7, 2026
Incidents
The attacker gained administrative access and altered contracts to drain user funds
Apr 30, 2026
Cryptocurrency rates
-
Bitcoin
$64 330
BTC
-2.99%
-
Ethereum
$2 551.16
ETH
+3.56%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.2
XRP
-0.53%
-
Dogecoin
$0.091237
DOGE
-1.17%
-
TRON
$0.160134
TRX
-1.59%
-
Zcash
$628.63
ZEC
+6.42%
-
Cardano
$0.200415
ADA
-5.39%
-
Stellar XLM
$0.209603
XLM
-4.48%
-
Polkadot
$3.32
DOT
+5.27%