BTC gains price amid improving situation in the US stock market

by in Cryptocurrency News


The improvement in the situation in the American stock market had a positive effect on the positions of both bitcoin and other digital currencies.

The night before, BTC jumped above $ 44,100, the highest value since January 6. The correction took place this morning during Asian trading. At the time of the publication of this review, bitcoin was trading at $ 43,800. During the day, its capitalization increased by 1.59% to $ 828.131 billion.

Altcoins also moved into the green zone the night before on the back of capital inflows into risky assets after the publication of data on the increase in inflation in the United States to 7% in annual terms.

Ether (ETH) rose 3.14% to $ 3343. Binance Coin (BNB) and Solana (SOL) added more than 5% in price and strengthened to $ 483.7 and $ 150.2, respectively. The value of all cryptocurrencies on Thursday, January 13, rose to $ 2.076 trillion.

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Analysts associate the change in bitcoin's trajectory with the growth of the S&P 500 stock indicator.

Earlier this week, the Kaiko platform released data showing that the correlation between Bitcoin and the US stock market peaked since the summer of 2020.

The correlation index of the S&P 500 and the price of the cryptocurrency reached 0.61. A similar situation is observed in comparison with another indicator of the Nasdaq business activity.