Citi Predicts Enduring 'Crypto-U.S. Equity High Correlation'
CryptoNewsTerminal Staff06 Sep, 2024
Citi Predicts Enduring 'Crypto-U.S. Equity High Correlation'
Citigroup anticipates the "elevated correlation between crypto markets and U.S. equities" to persist. This insight stems from a report shared with CoinDesk. Citigroup notes "recent outflows have started to emerge from the bitcoin (BTC) and ether (ETH) spot exchange-traded funds (ETFs)," along with "signs of declining activity on the Ethereum and Bitcoin networks." Consequently, crypto "could become more sensitive to macro factors and reinforce the correlation with U.S. equities," according to the strategists.
