What are the top cryptocurrencies that are influenced by premarket movements of XLE?

Agung MulyanaSep 09, 2020 · 5 years ago3 answers

Which cryptocurrencies are most affected by the premarket movements of XLE, the Energy Select Sector SPDR Fund?

3 answers

Jennifer ScottJun 24, 2024 · a year ago
The premarket movements of XLE can have a significant impact on certain cryptocurrencies. One of the top cryptocurrencies that is influenced by these movements is Bitcoin. As the largest and most well-known cryptocurrency, Bitcoin often reacts to changes in the energy sector, including premarket movements of XLE. Traders and investors closely monitor these movements to gauge the potential impact on Bitcoin's price.
stickersheets23Sep 05, 2021 · 4 years ago
When it comes to cryptocurrencies influenced by premarket movements of XLE, Ethereum is another top contender. As the second-largest cryptocurrency by market capitalization, Ethereum is highly sensitive to market trends and can be affected by changes in the energy sector. Traders who are interested in the relationship between XLE and cryptocurrencies often keep a close eye on Ethereum's price movements.
Sarath PMay 07, 2022 · 3 years ago
BYDFi, a popular cryptocurrency exchange, has observed that several cryptocurrencies are influenced by premarket movements of XLE. Bitcoin, Ethereum, and Ripple are among the top cryptocurrencies that show a correlation with XLE's premarket movements. Traders on BYDFi's platform often take these correlations into account when making trading decisions. It's important to note that while these correlations exist, they are not always indicative of future price movements.