bullish

Reserve

Coin

<ul class="wp-block-list news-points">
 <li>The crypto market is highly correlated with the stock market, moving in tandem with the latter.</li>
 <li>The US job report cites reduced unemployment rates, to which the stock market may react positively.</li>
 <li>The community expects a bullish crypto rally in response to the US jobs report.</li>
</ul>
Recent reports offer a glimmer of hope to the crypto community, which has been navigating a turbulent market. A new <a href="https://www.bloomberg.com/news/articles/2024-09-06/bitcoin-btc-taking-cue-from-stocks-as-us-jobs-data-loom" target="_blank" rel="noopener noreferrer nofollow">Bloomberg report</a> highlights the growing correlation between crypto and equities, suggesting a potential crypto boom following the positive U.S. jobs report.
The report discusses the decreased unemployment rate, alleviating concerns of a weakening labor market. The Labor Department’s weekly jobless claims report also revealed the unemployment rate falling to levels last seen in mid-June. This signals a <a href="https://www.reuters.com/markets/us/us-weekly-jobless-claims-decline-layoffs-remain-low-2024-09-05/#:~:text=The%20ADP%20National%20Employment%20Report,previously%20reported%20gain%20of%20122%2C000." target="_blank" rel="noopener noreferrer nofollow">lower likelihood</a> of U.S. Federal Reserve interest rate hikes, potentially fueling a bullish crypto rally.
<h2 class="wp-block-heading" id="h-correlation-between-crypto-and-stocks">Correlation Between Crypto and Stocks</h2>
The US jobs report is a key economic indicator that can significantly impact both the stock market and the crypto market. Additionally, the strong correlation between the two markets further supports the idea of a potential shif…
The post <a href="https://coinedition.com/cryptos-correlation-with-equities-a-closer-look-at-market-trends/" rel="noopener noreferrer nofollow">Crypto’s Correlation with Equities: A Closer Look at Market Trends</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Crypto’s Correlation with Equities: A Closer Look at Market Trends

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