Citigroup Report: High Correlation Between Crypto and Stock Markets Continues
Publication Time:2024-09-06 21:26:06
In its latest research report, the global financial institution Citibank (C) emphasized that despite the underperformance of the cryptocurrency market in the current environment, the correlation between it and the stock market remains significant. The report noted that both Bitcoin and Ethereum (ETH) spot exchange-traded funds (ETFs) experienced outflows of capital, indicating a decline in investor interest in these two digital currencies. Looking ahead, Citigroup expects the cryptocurrency market to continue its high correlation with the stock market in the upcoming economic cycle, suggesting that the price fluctuations of both may sync or affect each other. This report reveals the potential role of the cryptocurrency market in risk management strategies and also alerts investors to its dynamic relationship with traditional financial markets.
Cryptocurrency
Risk Assets
stock market correlation
Citigroup report