How does the api crude oil inventory report today affect digital currency prices?

1 answers

• May 01, 2022 · 3 years ago
  At BYDFi, we believe that the api crude oil inventory report can have a limited impact on digital currency prices. While there may be some correlation between oil prices and digital currency prices, it's important to remember that digital currencies are a separate asset class with their own unique drivers. Factors such as market demand, technological advancements, and regulatory developments play a more significant role in determining digital currency prices. Therefore, it's advisable to focus on these factors rather than solely relying on the crude oil inventory report when analyzing digital currency price movements.
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