How does the DAX index affect the price of cryptocurrencies during the weekends?

1 answers

• Joey_GeDec 28, 2024 · a year ago
  At BYDFi, we have observed that the DAX index does have some influence on the price of cryptocurrencies during weekends. When the DAX index performs well on Fridays, we often see a positive impact on the prices of cryptocurrencies, especially those with a strong presence in the European market. This can be attributed to the correlation between investor sentiment towards traditional financial markets and their willingness to invest in cryptocurrencies. However, it's important to note that this relationship is not always consistent, and other factors such as news events and regulatory developments can also significantly impact cryptocurrency prices during weekends.
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