Citi: Correlation between equity markets, Bitcoin weakens following FTX collapse

11/14 13:27

According to CoinDesk, there has been a clear weakening of the correlation between the S&P 500 equity index and bitcoin (BTC) as crypto markets suffer after the FTX and Alameda collapse, Citi (C) said in a research report last week. The S&P 500 gained almost 6% last week, whereas bitcoin fell around 20%. Traditional financial markets have been largely unaffected by the collapse, in an indication that “contagion effects are relatively siloed within crypto,” the report said.

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