U.S. economic system added an surprising strong 263,000 jobs in November. Bitcoin was lately hovering close to $17,000, recovering from an earlier slide on the information, whereas equities had been blended following the robust job report. The S&P 500 and Nasdaq Composite closed down 0.12% and 0.18%, respectively, whereas the Dow Jones Industrial Average was up 0.1%. Data from crypto evaluation agency IntoTheBlock reveals bitcoin’s 30-day correlation with the S&P 500 dropped to -0.8, hitting its lowest level since May 2019. “The contrast between crypto’s internal troubles and macro’s positive tailwinds have led the two to become negatively correlated,” Lucas Outumuro, head of analysis at IntoTheBlock, wrote in a Friday notice.
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