🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
Total Prize Pool: 1,250 $ES
This campaign aims to promote the Eclipse ($ES) Launchpool and Alpha Phase 11: $ES Special Event.
📄 For details, please refer to:
Launchpool Announcement: https://www.gate.com/zh/announcements/article/46134
Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
1️⃣ Post with the hashtag #Gate Alpha 3rd
During the extended long weekend in the US, markets are experiencing weakness as the Wednesday trading session begins in Asia. In the last 4 hours, 655 thousand dollars were liquidated in Bitcoin, and in the last 12 hours, 910 thousand dollars were liquidated. According to the Block Scholes model, the correlation between Bitcoin's price changes and the US stock markets has decreased significantly over the past 90 days, especially for the Nasdaq and S&P 500 indices.
This indicates that Bitcoin's price movements are no longer strongly correlated with US equity markets. This decrease may indicate the tendency of Bitcoin to be considered as an independent asset. Especially the recent liquidations may have created some uncertainty in the market.
As a result, the weakness in Asian markets during the long weekend in the USA and the decrease in Bitcoin's correlation with the US stock markets can be considered as an important development in the cryptocurrency market. However, it is unclear what effect this will have on Bitcoin's future price movements.
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