Is there a correlation between the after-hours performance of S&P 500 futures and the price of popular cryptocurrencies?

3 answers

• Dec 28, 2021 · 3 years ago
  Yes, there is a potential correlation between the after-hours performance of S&P 500 futures and the price of popular cryptocurrencies. As the S&P 500 futures market is a major indicator of the overall sentiment in the stock market, significant movements in after-hours trading can influence market participants' perception of risk and affect their investment decisions in cryptocurrencies. However, it's important to note that correlation does not imply causation, and other factors such as news events, regulatory developments, and market sentiment can also impact cryptocurrency prices.
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• Dec 28, 2021 · 3 years ago
  While there may be some correlation between the after-hours performance of S&P 500 futures and the price of popular cryptocurrencies, it is important to consider that cryptocurrencies are a separate asset class with their own unique drivers. Cryptocurrency markets are influenced by factors such as technological advancements, adoption rates, regulatory changes, and investor sentiment, which may not always align with the performance of traditional stock markets. Therefore, it is advisable to analyze cryptocurrency prices using a comprehensive set of indicators rather than relying solely on the after-hours performance of S&P 500 futures.
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• Dec 28, 2021 · 3 years ago
  According to a study conducted by BYDFi, there is a statistically significant correlation between the after-hours performance of S&P 500 futures and the price of popular cryptocurrencies. The study analyzed historical data and found that when S&P 500 futures experienced significant gains or losses in after-hours trading, there was a corresponding movement in the price of cryptocurrencies within the following trading sessions. This suggests that monitoring the after-hours performance of S&P 500 futures can provide valuable insights for cryptocurrency traders and investors.
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