Econometric Analysis of Daily Bitcoin Market Dynamics
This study conducts an econometric analysis of daily Bitcoin market dynamics, employing a Vector Autoregressive Moving Average (VARMA) model to capture the time-varying interrelationships between Bitcoin returns and macroeconomic variables. The results reveal significant spillover effects from macroeconomic factors to Bitcoin returns, highlighting the influence of external economic conditions on Bitcoin market fluctuations. The study contributes to the literature by providing novel insights into the dynamic interactions between Bitcoin and the broader economy, offering valuable information for investors and policymakers alike.