Bitcoin and Ethereum top S&P 500 and gold

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Bitcoin and Ethereum top S&P 500 and gold
Bitcoin and Ethereum top S&P 500 and gold

Cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) have moved independently of the S&P 500 and gold over the past week. Will this trend continue into the new week or change?

S&P 500 trending higher than Bitcoin and Ethereum

The S&P 500 has surged over the past week, outperforming Bitcoin and Ethereum. According to Santiment’s trend analysis, the S&P 500 has gained more than 6% in just 4 days.

Due to this surge, the share price has surpassed the value of cryptocurrencies such as BTC and ETH. After a period of strong price gains, these cryptocurrencies appear to be stabilizing.

The S&P 500’s recent gains can be attributed to the latest report from the Federal Open Market Committee (FOMC). It is worth noting that the report announced that the Federal Reserve will keep interest rates unchanged for the second consecutive month.

The decision sparked speculation that the Fed might not raise interest rates again. As a result, this has led to a significant increase in the share price over the past week.

BTC and ETH prices catch up with stock prices

According to trend chart analysis, Bitcoin and Ethereum price movements are outperforming the S&P 500 Index. BTC and ETH outperformed previous holdings despite the weekend stock market shutdown.

It remains uncertain whether share prices will continue to rise when markets reopen, but cryptocurrency prices have continued to rise during this period.

November 5, 2023 09.14.47

Bitcoin and Ethereum maintain upward trend

On November 4, the daily chart showed that Bitcoin closed with a significant price increase of over 1%. As of this writing, it is still trading slightly higher at over $35,000.

Despite occasional price drops, Bitcoin has managed to maintain its price within the $35,000 range. This is a major factor in its bullishness relative to the S&P 500.

Bitcoin USD 2023 11 05 13 32 02

Furthermore, an examination of the Ethereum daily time frame chart reveals even more impressive performance. As of this writing, Ethereum The trading price surged by more than 2%, surpassing the $1,800 mark.

The chart also shows that Ethereum has shown a sustained upward trend for several days.

ETHUSD 2023 11 05 13 48 15

General Bitcoin News.



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