How does the opening and closing time of the US stock market affect the price of cryptocurrencies?

1 answers

• HasanmeorsJun 03, 2023 · 2 years ago
  At BYDFi, we have observed that the opening and closing time of the US stock market can indeed affect the price of cryptocurrencies. When the US stock market opens, we often see an increase in trading volume and price volatility in the cryptocurrency market. This can be attributed to the fact that many cryptocurrency traders and investors also participate in traditional stock market trading. As a result, when the US stock market opens, there is a higher likelihood of market-moving events and news that can impact both the stock market and cryptocurrencies. However, it's important to note that the correlation between the US stock market and cryptocurrencies is not always consistent and can vary depending on market conditions and other external factors.
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