Which cryptocurrencies are most influenced by movements in SP futures 500?

1 answers

• stanislausfbJul 16, 2024 · a year ago
  At BYDFi, we have observed that Bitcoin, Ethereum, and Litecoin are the cryptocurrencies that are most influenced by movements in the SP futures 500. This is because these cryptocurrencies have a large market capitalization and are widely traded. When the SP futures 500 experiences significant movements, it often leads to a domino effect in the cryptocurrency market, causing prices to rise or fall. However, it's important to note that the impact may not be immediate and can take some time to reflect in the prices of these cryptocurrencies. Therefore, it's crucial for investors to closely monitor the movement of the SP futures 500 and conduct thorough analysis before making any trading decisions.
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