Bitcoin and Ethereum top S&P 500 and gold

Over the past week, cryptocurrencies such as Bitcoin [BTC] and Ethereum [ETH] Its movements are independent of the S&P 500 and gold. Will this trend continue into the new week or change?

S&P 500 trending higher than Bitcoin and Ethereum

The S&P 500 has surged over the past week, outperforming Bitcoin and Ethereum. According to Santiment’s trend analysis, the S&P 500 has gained more than 6% in just 4 days.

📊 of #SP500 The next week is important #bitcoin & #Ethereum has cooled down.With each of these industries now having their “sunny days”, next week will tell whether #cryptocurrency still with #stockor whether the asset can be #bullrun. https://t.co/R9moWBoqCx pic.twitter.com/FNddr1T8PM

— Santiment (@santimentfeed) November 4, 2023

Due to this surge, the share price has surpassed the value of cryptocurrencies such as BTC and ETH. After a period of strong price gains, these cryptocurrencies appear to be stabilizing.

The S&P 500’s recent gains can be attributed to the latest report from the Federal Open Market Committee (FOMC). Notably, the report announced that the Federal Reserve would keep interest rates unchanged for the second consecutive month.

The decision sparked speculation that the Fed may not raise interest rates again. As a result, this has led to a significant increase in the share price over the past week.

BTC and ETH prices catch up with stock prices

According to trend chart analysis, Bitcoin and Ethereum price movements are outperforming the S&P 500 Index. BTC and ETH outperformed previous holdings despite the weekend stock market shutdown.

It remains uncertain whether share prices will continue to rise when markets reopen, but cryptocurrency prices have continued to rise during this period.

Bitcoin and Ethereum keep uptrend

On November 4, the daily time frame chart showed that Bitcoin closed with a significant price increase of over 1%. As of this writing, it is still trading slightly higher at over $35,000.

Despite occasional price drops, Bitcoin has managed to maintain its price within the $35,000 range. This is a major factor in its bullishness relative to the S&P 500.

Furthermore, an examination of the Ethereum daily time frame chart reveals even more impressive performance. As of this writing, Ethereum The trading price surged by more than 2%, surpassing the $1,800 mark.

The chart also shows that Ethereum has been in a consistent upward trend for several days.

Bitcoin News Synthetic.