author DMM Bitcoin Market Report
Profile: Crypto asset exchange company. With DMM Bitcoin, you can trade with a wide variety of crypto assets (virtual currencies). With strict security, we provide an environment where customers can trade crypto assets with peace of mind. An account can be opened on the same day at the shortest. (Crypto asset exchange business No. 00010 by the Director of the Kanto Local Finance Bureau, No. 3189 by the Director of the Kanto Local Finance Bureau (Kinsho) No. 3189, member association: Japan Crypto Asset Trading Association)
・January market price as anomaly
In last month’s report (Daily Market Report 2022/12/27 “An 11% drop in sight? Impact of the year-end and New Year anomalies on Bitcoin”), the correlation between US stocks and BTC/USD (Bitcoin) We confirmed the possibility that BTC/USD could also benefit from the January effect if the market environment becomes high, as US stocks take the lead.
In today’s report, we will continue to focus on Bitcoin and U.S. stocks, and describe the future of Bitcoin this year while examining the current risks.
The above chart shows the NDX (Nasdaq 100 Index) daily chart from January 3, 2023 to the present, the BTC/USD daily chart from January 1, 2023 to the present, and the correlation coefficient between the two. .
As shown in the above chart, NDX rose about 7.9% from the beginning of January, and BTC/USD, which regained its correlation with NDX, rose about 38.3%.
There were also positive surprises such as market expectations for a slowdown in the pace of interest rate hikes by the Fed (Federal Reserve Board).This year’s January market is rising as the anomaly of the “January effect”became.
