How does the closing time of the US stock market affect cryptocurrency prices?

1 answers

• Nov 26, 2021 · 3 years ago
  At BYDFi, we have observed that the closing time of the US stock market does have an impact on cryptocurrency prices. While the relationship is not always direct or immediate, there are instances where we have seen correlations between the closing time of the US stock market and fluctuations in cryptocurrency prices. This can be attributed to the fact that many institutional investors and traders who participate in both the stock market and cryptocurrency market use the closing time of the US stock market as a reference point for their trading decisions. As a result, when the US stock market closes, it can trigger a chain reaction in the cryptocurrency market, leading to price movements. However, it's important to note that cryptocurrency prices are influenced by a wide range of factors, and the closing time of the US stock market is just one piece of the puzzle.
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