Citi: Cryptocurrency market will remain highly correlated with stocks
2024-09-06 13:26:53
The cryptocurrency market continues to underperform other risky assets amid weakening demand and is expected to remain highly correlated with equities, Citibank (C) said in a research note on Friday. The bank noted that both bitcoin and ether (ETH) spot exchange-traded funds (ETFs) saw outflows. Looking ahead, the bank said it expects the cryptocurrency market to remain highly correlated with equities in the upcoming macro calendar.
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