{"id":506957,"date":"2022-10-19T23:00:18","date_gmt":"2022-10-19T23:00:18","guid":{"rendered":"https:\/\/wncen.com\/?p=506957"},"modified":"2024-06-11T08:05:08","modified_gmt":"2024-06-11T08:05:08","slug":"bitcoin-correlation-with-macro-remains-strong-despite-stability","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-correlation-with-macro-remains-strong-despite-stability\/","title":{"rendered":"Bitcoin Correlation With Macro Remains Strong, Despite Stability"},"content":{"rendered":"<p class=\"p2\">The Bitcoin correlation with the macro markets reached new highs in 2022. This saw the price of the digital asset, and the entire crypto market by extension, follow the movement of the stock and equities market very closely. There were forecasts that the cryptocurrency would begin to decouple from the macro market as time went on but data shows that the correlation still remains very high even now.<\/p>\n<h2 class=\"p2\">Following The Macro Market<\/h2>\n<p class=\"p2\">One of the most prominent ways that the macro market and the bitcoin correlation have shone through has been during important events like the CPI data releases. The last CPI data release came back with higher rates than expected and the crypto market had responded almost immediately. Looking at bitcoin alone, it would\u2019ve been normal to deduce that the market was reacting independently, but it had, in fact, followed the movement of the macro market.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/what-is-aptos-apt-and-why-is-everyone-talking-about-it\/\">What Is Aptos (APT) And Why Is Everyone Talking About It?<\/a><\/div>\n<p class=\"p2\">Presently, the correlation between bitcoin and the macro market is sitting near multi-year highs, and so is the bitcoin correlation to the gold market. This has seen the cryptocurrency move in tandem with the broader financial markets despite the decentralized nature of the digital asset.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-506958 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/bitcoin-and-macrostock-markets.png?resize=460%2C399\" alt=\"bitcoin and macro:stock markets\" width=\"460\" height=\"399\"><\/p>\n<pre style=\"text-align: center\">BTC correlation to macro markets wax stronger | Source: <a href=\"https:\/\/arcane.no\/research\" rel=\"nofollow\">Arcane Research<\/a><\/pre>\n<p class=\"p2\">Data shows that the correlation between the equities market and bitcoin had been steady at around 0.7 for the last month, making a similarly recorded trend between April and June 2022. If history is to repeat itself, then there might be some reprieve as the correlation could decline just like it did back then.<\/p>\n<h2 class=\"p2\">Behind The Bitcoin-Stock Market Correlation<\/h2>\n<p class=\"p2\">For the longest time, bitcoin and the crypto market had been able to grow without much implications from the stock market movements. However, this would begin to change during the lockdown period of 2020, and companies getting into the digital asset<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/dC69vS7l\/\" alt=\"Bitcoin price chart from TradingView.com\" width=\"3284\" height=\"1760\"><\/p>\n<pre style=\"text-align: center\">BTC falls to low $19,000s | Source: <a href=\"http:\/\/TradingView.com\" rel=\"nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p class=\"p2\">Over the last two years, companies have bought tens of thousands of BTC to add to their balance sheets, with MicroStrategy alone holding more than 130,000 BTC. Given this, the performance of these companies in the stock market had begun to spill over into bitcoin. The stimulus payments also gave investors some \u2018free\u2019 money to put into the markets, which led to the inevitable pump of both markets at the same time, and the crossover of companies into crypto only help to push the correlation further.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/exchange-outflows-shows-bitcoin-ethereum-accumulation-trend-continues\/\">Exchange Outflows Shows Bitcoin, Ethereum Accumulation Trend Continues<\/a><\/div>\n<p class=\"p2\">For the short term at least, what this means is that keeping an eye on the macro markets is important for bitcoin investors. The downward correction last week was a result of the macro markets adjusting to price in the expected Nov. 2nd FOMC hike. If the FOMC goes the way of the CPI data release, then investors should brace for another decline in price.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<pre style=\"text-align: center\">Featured image from Forbes, charts from Arcane Research and TradingView.com<\/pre>\n<p><span class=\"s1\"><b><i>Follow <\/i><\/b><a href=\"https:\/\/twitter.com\/BestOwie\" rel=\"nofollow\"><b><i>Best Owie on Twitter<\/i><\/b><\/a><b><i> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin correlation with the macro markets reached new highs in 2022. This saw the price of the digital asset, and the entire crypto market by extension, follow the movement of the stock and equities market very closely. There were forecasts that the cryptocurrency would begin to decouple from the macro market as time went on but data shows that the correlation still remains very high even now. Following The Macro Market One of the most prominent ways that the macro market and the bitcoin correlation have shone through has been during important events like the CPI data releases. The last CPI data release came back with higher rates than expected and the crypto market had responded almost immediately. Looking at bitcoin alone, it would\u2019ve been normal to deduce that the market was reacting independently, but it had, in fact, followed the movement of the macro market. Related Reading: What Is Aptos (APT) And Why Is Everyone Talking About It? Presently, the correlation between bitcoin and the macro market is sitting near multi-year highs, and so is the bitcoin correlation to the gold market. This has seen the cryptocurrency move in tandem with the broader financial markets despite the decentralized nature of the digital asset. BTC correlation to macro markets wax stronger | Source: Arcane Research Data shows that the correlation between the equities market and bitcoin had been steady at around 0.7 for the last month, making a similarly recorded trend between April and June 2022. If history is to repeat itself, then there might be some reprieve as the correlation could decline just like it did back then. Behind The Bitcoin-Stock Market Correlation For the longest time, bitcoin and the crypto market had been able to grow without much implications from the stock market movements. However, this would begin to change during the lockdown period of 2020, and companies getting into the digital asset BTC falls to low $19,000s | Source: BTCUSD on TradingView.com Over the last two years, companies have bought tens of thousands of BTC to add to their balance sheets, with MicroStrategy alone holding more than 130,000 BTC. Given this, the performance of these companies in the stock market had begun to spill over into bitcoin. The stimulus payments also gave investors some \u2018free\u2019 money to put into the markets, which led to the inevitable pump of both markets at the same time, and the crossover of companies into crypto only help to push the correlation further. Related Reading: Exchange Outflows Shows Bitcoin, Ethereum Accumulation Trend Continues For the short term at least, what this means is that keeping an eye on the macro markets is important for bitcoin investors. The downward correction last week was a result of the macro markets adjusting to price in the expected Nov. 2nd FOMC hike. If the FOMC goes the way of the CPI data release, then investors should brace for another decline in price.\u00a0 Featured image from Forbes, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":506960,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,83846,87246,1119,1144,78790],"class_list":["post-506957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-macro","tag-bitcoin-with-stock-market","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Bitcoin Correlation With Macro Remains Strong, Despite Stability<\/title>\n<meta name=\"description\" content=\"The Bitcoin correlation with the macro markets reached new highs in 2022. 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Correlation With Macro Remains Strong, Despite Stability","url":"http:\/\/wncen.com\/news\/bitcoin-correlation-with-macro-remains-strong-despite-stability\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-correlation-with-macro-remains-strong-despite-stability\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-and-macro-market.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-and-macro-market.jpeg?fit=711%2C474"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin macro","bitcoin with stock market","btc","btcusd","btcusdt"],"dateCreated":"2022-10-19T23:00:18Z","datePublished":"2022-10-19T23:00:18Z","dateModified":"2024-06-11T08:05:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Correlation With Macro Remains Strong, Despite Stability\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-correlation-with-macro-remains-strong-despite-stability\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-correlation-with-macro-remains-strong-despite-stability\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Bitcoin-and-macro-market.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Bitcoin-and-macro-market.jpeg?fit=711%2C474\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin macro\",\"bitcoin with stock market\",\"btc\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2022-10-19T23:00:18Z\",\"datePublished\":\"2022-10-19T23:00:18Z\",\"dateModified\":\"2024-06-11T08:05:08Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-and-macro-market.jpeg?fit=711%2C474","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/506957"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=506957"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/506957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/506960"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=506957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=506957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=506957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}