After the decline of the US stock market on Friday, how will Monday's opening affect digital currencies?

Last Friday, the US stock market fell again under the pressure of inflation concerns and geopolitical conflicts, and market panic spread into the weekend. The performance of the US stock market after Monday's opening has become a key window to observe the direction of digital currencies.

Historically, the 30-day correlation coefficient between Bitcoin and the S&P 500 index has risen to 0.74, hitting a new high for the year, indicating a high degree of synchronization between the two. This means that if the US stock market continues to decline after Monday's opening, the digital currency market is likely to face a new wave of selling pressure—just as Bitcoin fell in sync with the US stock market during last week's turmoil, briefly dropping below $69,000, causing over 100,000 liquidations. Institutional analysis pointed out that in the current environment, Bitcoin resembles a "high Beta global liquidity asset," with its safe-haven attributes temporarily taking a back seat.

However, there are also positive signals: last Friday, Bitcoin rose against the trend to $73,800, although the subsequent decline of the US stock market narrowed the gains, it still performed better than gold and silver. Analysts believe that about 25% of Bitcoin's volatility can be explained by changes in the stock market, while the rest is driven by factors within the cryptocurrency market itself. If the US stock market stabilizes or rebounds on Monday, Bitcoin is expected to consolidate the $70,000 level; if the US stock market continues to dip, caution is needed regarding correlated risks. The key lies in the market closely monitoring the dynamics of the Middle East situation and the Federal Reserve's policy signals. #比特币升回7万

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