Bitfinex Alpha: Risk appetite has returned to BTC

According to a Bitfinex Alpha research report, risk assets generally rose as Federal Reserve Chairman Jerome Powell made comments in Jackson Hole suggesting a possible rate cut. BTC soared to $65,000. This statement caused the dollar to fall, boosting the stock market. The SP 500 index is close to its all-time high. Bitcoin, which had previously lagged behind the stock market, rose sharply by 6.06% in one day, marking the second largest single-day gain since May. The rise occurred against the backdrop of Bitcoin's growing positive correlation with the U.S. stock market. Since hitting a low in early August, Bitcoin has been relatively weak relative to stocks. Friday's price surge also witnessed a sharp rise in correlation, indicating that risk appetite has returned to the market.