🌍 Macro and Crypto: Synchronization with Traditional Markets
📉 Correlation in Action
The analysis reveals that cryptocurrencies do not move in a vacuum. In this latest correction, a high correlation (+0.94) with the S&P 500 index (SPY) was observed. When stock markets fell due to fears of a possible government shutdown in the U.S., the crypto market closely followed.
🏛️ The Political and Economic Factor
Macroeconomic and political uncertainty remains a major driver for risk aversion globally. Investors, in this scenario, tend to withdraw capital from assets considered higher risk, a category in which many cryptocurrencies still fall.
🔮 What to Expect?
This correlation suggests that the health of the traditional economy and political decisions will continue to directly impact the prices of digital assets in the short and medium term.
💡 Extra Fact: A correlation of +0.94 is almost perfect. A value of +1 means that assets move exactly in the same direction. This underscores the increasing integration of crypto into the global financial system.