Analysis of the impact of macroeconomic factors on cryptocurrency returns - Based on quantile regression study

Minghui Lin, Ye Liu and Vincent Ng Kim Sheng

International Review of Economics & Finance, 2025, vol. 97, issue C

Abstract: This paper uses data from January 2018 to early May 2024 as a sample to study the impact of macroeconomic factors on cryptocurrency returns. The empirical study finds that the price index of means of production significantly negatively impacts bitcoin returns. The US dollar exchange rate also significantly negatively impacts bitcoin returns, while Treasury yields have a positive effect.

Keywords: Economic factors; Cryptocurrency; Returns (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:97:y:2025:i:c:s1059056024007494

DOI: 10.1016/j.iref.2024.103757

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