Bitcoin correlations report, July 2024

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	Forwarded this email? Subscribe here for more What’s tying together Bitcoin, gold and stocks? Bitcoin correlations report, July 2024 Ecoinometrics Jul 24 ∙ Preview   READ IN APP   If you zoom away from the day to day movements of the major asset classes you can see the big trend.  That trend is tying together Bitcoin, gold and the leading companies that weigh so much in the stock market. And it is dragging everything else that goes downstream.  This is the big picture we ought to focus on. The Ecoinometrics newsletter gives you insights from crypto and macro data to help you make better investment decisions.  We spend hours every day gathering data, creating metrics and bringing them to life with data visualizations that allow you to quickly get to the heart of things. We then distill all that knowledge in each issue of the newsletter with less words and more charts so that you get insights, direct to the point, in five minutes or less. Join more than 23,000 investors here: Upgrade to paid Done? Thanks! That’s great! Now let’s dive in. What’s tying together Bitcoin, gold and stocks? The takeaway Instead of looking at short term correlations, this week we are zooming out. And when we look at the big picture, here is what we learn: Bitcoin's price trends are closely correlated with gold and the NASDAQ over long-term horizons, driven by global liquidity conditions. Many crypto assets, miners, and related stocks follow Bitcoin's lead. Investing in these assets is essentially betting on Bitcoin's direction. Financial conditions in the US are easing, creating a favourable environment for Bitcoin and related assets. The current liquidity tailwind supports Bitcoin, but a potential US recession remains a key risk to watch. Understanding these long-term trends and macro correlations is crucial for navigating the crypto market effectively. Zooming out on macro correlations... Unlock this post for free, courtesy of Ecoinometrics. Claim my free post Or upgrade your subscription. Upgrade to paid A subscription gets you: Big picture insights: Understand the market regime and major trends in Bitcoin and macro. Spot opportunities and risks: Identify key investment opportunities and risks in Bitcoin and crypto. Connect macro and crypto: See how macro factors influence Bitcoin and how Bitcoin impacts the crypto market.   Like Comment Restack   © 2024 Ecoinometrics 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe