---
title: "Analyst: The sensitivity (Beta) of the cryptocurrency market to macro risks will remain high"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/265953323.md"
description: "Analysts point out that due to high volatility, the cryptocurrency market's sensitivity to macro risks will remain elevated. Although the U.S. stock market briefly rebounded due to the end of the government shutdown, the delay in the release of key economic data has put pressure on the market. Max Gokhman from Franklin Templeton Investments stated that institutional investment has not yet expanded significantly beyond Bitcoin and Ethereum, leading to high sensitivity in the cryptocurrency market. Liquidity has also decreased, with Kaiko noting that market depth indicators have declined by about 30% from this year's peak"
datetime: "2025-11-14T14:54:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265953323.md)
  - [en](https://longbridge.com/en/news/265953323.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265953323.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/265953323.md) | [English](https://longbridge.com/en/news/265953323.md)


# Analyst: The sensitivity (Beta) of the cryptocurrency market to macro risks will remain high

Earlier this week, the U.S. stock market briefly rebounded due to the end of the government shutdown, but then quickly fell back. As the release of key economic data was delayed, traders began to question whether the Federal Reserve had sufficient reason to cut interest rates in the short term, putting further pressure on market risk assets. "The current sell-off is completely in sync with other risk assets, but due to higher volatility, the declines in cryptocurrencies are larger," said Max Gokhman, Deputy Chief Investment Officer of Franklin Templeton Investment Solutions. "As institutional investment has not yet expanded significantly beyond Bitcoin and Ethereum, the cryptocurrency market's sensitivity to macro risks (Beta) will remain high." Liquidity has also sharply declined. Kaiko stated that the "market depth" indicator, which measures the market's ability to handle large trades, has dropped about 30% from this year's peak

### 相關股票

- [American Bitcoin (ABTC.US)](https://longbridge.com/zh-HK/quote/ABTC.US.md)
- [Grayscale Bitcoin Trust BTC - ETF (GBTC.US)](https://longbridge.com/zh-HK/quote/GBTC.US.md)
- [ProShares Ultra Bitcoin ETF (BITU.US)](https://longbridge.com/zh-HK/quote/BITU.US.md)
- [Invesco Galaxy Bitcoin ETF (BTCO.US)](https://longbridge.com/zh-HK/quote/BTCO.US.md)
- [BTC/HKD (BTCHKD.VAHK)](https://longbridge.com/zh-HK/quote/BTCHKD.VAHK.md)
- [BTC/USD (BTCUSD.VAHK)](https://longbridge.com/zh-HK/quote/BTCUSD.VAHK.md)
- [ETH/HKD (ETHHKD.VAHK)](https://longbridge.com/zh-HK/quote/ETHHKD.VAHK.md)
- [ETH/USD (ETHUSD.VAHK)](https://longbridge.com/zh-HK/quote/ETHUSD.VAHK.md)

## 相關資訊與研究

- [Bitfarms leads the exit, rebranding to Keel Infrastructure, moving to US](https://longbridge.com/zh-HK/news/281230667.md)
- [Ripple CEO Brad Garlinghouse Warns Against Another 'Gary Gensler Moment'](https://longbridge.com/zh-HK/news/281051490.md)
- [Bank Syz Significantly Increases Assets under Management](https://longbridge.com/zh-HK/news/281354258.md)
- [DeFi Technologies Files 2025 Annual Information Form with U.S. SEC](https://longbridge.com/zh-HK/news/281291168.md)
- [AVA to Open Contributor Tasks on April 7th](https://longbridge.com/zh-HK/news/281226331.md)