Coinbase research shows that crypto and stock markets are highly correlated
The correlation between the cryptocurrency and stock markets is at an all-time high in September, according to a recent Coinbase research. The research also indicated that global easing campaigns in China and the U.S. are among the main reasons for the increased correlation, now nearing 50%.The report comes after a few major events in the crypto community went down, including the TOKEN2049 event in Singapore and the Solana Breakpoint conference. The Federal Reserve also decided upon an aggressive approach to the interest rate cuts, applying a 50-basis-point rate cut.The Fed’s decision during the Federal Open Market Committee meeting positively affected both crypto and stock markets. Bitcoin rose significantly, crossing the $64,000 mark. Additionally, crypto-related stocks rose, including Coinbase’s COIN and Microstrategy’s MSTR.Data from Bloomberg showed that U.S. equity futures were in tandem with crypto prices this week. Several U.S. stocks rose, with some reaching new all-time highs