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Citi: Cryptocurrency market will remain highly correlated with stocks
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.
2024-09-06 13:26:53
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