What are the correlations between the SPX heat map and digital currencies?

1 answers

• Nov 24, 2021 · 3 years ago
  At BYDFi, we have observed some correlations between the SPX heat map and digital currencies. While the relationship is not always direct, there are instances where changes in the SPX heat map can impact the value and performance of digital currencies. For example, during periods of market downturns or economic instability reflected in the SPX heat map, investors may seek refuge in digital currencies as a hedge against traditional markets. This increased demand can potentially drive up the prices of digital currencies. However, it's important to note that digital currencies are influenced by various factors, and the correlation with the SPX heat map is just one piece of the puzzle.
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