Traditional Markets
Wall Street did indeed come back from its long weekend in a good mood but things quickly turned sour when investors realized that the US government may just be headed for a good old fashioned shut down by the end of the week.
Here we can see the opening bell for the Dow Jones with a nice gap above 26,000 points, a milestone for this index about difference between balance and equity. The gap was quickly covered on the downside, followed by a ramp up to a new all time high of 26,085 before seeing the worst sell-off so far this year.
Whenever there is a strong movement across different assets, it's a great opportunity to compare and contrast. Though I believe that the micro movements in digital currencies are not yet as correlated as stocks, bonds, commodities, and currencies this chart shows a stringing connection.
Here we can see Bitcoin in white, Gold in yellow, and the S&P 500 in blue. Just take a look at the middle of the chart and we can see that indeed Gold and Bitcoin both fell sharply at the beginning of the European session, just before the Asian investors went to bed and way before New Yorkers opened their eyes.
Of course, looking at this timeframe is sort of like looking through a straw. You don't really get the big picture. The same chart over the last 3 years shows all three assets rising fairly steadily, which is most likely explained by the copious amounts of money that's been created by central banks over the last decade.
Wall Street did indeed come back from its long weekend in a good mood but things quickly turned sour when investors realized that the US government may just be headed for a good old fashioned shut down by the end of the week.
Here we can see the opening bell for the Dow Jones with a nice gap above 26,000 points, a milestone for this index about difference between balance and equity. The gap was quickly covered on the downside, followed by a ramp up to a new all time high of 26,085 before seeing the worst sell-off so far this year.
Whenever there is a strong movement across different assets, it's a great opportunity to compare and contrast. Though I believe that the micro movements in digital currencies are not yet as correlated as stocks, bonds, commodities, and currencies this chart shows a stringing connection.
Here we can see Bitcoin in white, Gold in yellow, and the S&P 500 in blue. Just take a look at the middle of the chart and we can see that indeed Gold and Bitcoin both fell sharply at the beginning of the European session, just before the Asian investors went to bed and way before New Yorkers opened their eyes.
Of course, looking at this timeframe is sort of like looking through a straw. You don't really get the big picture. The same chart over the last 3 years shows all three assets rising fairly steadily, which is most likely explained by the copious amounts of money that's been created by central banks over the last decade.
XAU/BTC - Gold Correlation?
Aucun commentaire:
Enregistrer un commentaire