Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
What is the Reason for the Long-Term Decline in Bitcoin and Ethereum? Citi Analysts Explained!

What is the Reason for the Long-Term Decline in Bitcoin and Ethereum? Citi Analysts Explained!

BitcoinsistemiBitcoinsistemi2024/08/27 14:27
By:Elif Azra Güven

Citi analysts noted that the cryptocurrency market has struggled since the launch of spot Ethereum ETFs due to weak demand and ETF outflows.

In a milestone for the cryptocurrency market, spot Bitcoin and Ethereum ETFs were approved and made available to investors.

While these ETFs are expected to add vitality to the market, Citi stated in its latest report that the cryptocurrency market has struggled due to weak demand and ETF outflows since the launch of spot Ethereum ETFs.

According to Coindesk, Citi analysts said that spot Bitcoin and Ethereum ETFs have experienced net outflows in the past month.

Citi analysts said that other risky assets have also performed poorly since spot ETH ETFs, but cryptocurrencies have been affected more, writing:

“Crypto demand has decreased in recent weeks, as spot Bitcoin (BTC) and Ethereum ETFs have experienced net outflows in the past month.

These outflows also coincide with relatively weak crypto interest and weak network activity.”

Analysts said that until the market gains more transparency about the consequences of a soft landing or a hard landing in the U.S. economy, ETF flows could continue to disappoint.

*This is not investment advice.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

How much is ETH really worth? Hashed provides 10 different valuation methods in one go

After taking a weighted average, the fair price of ETH exceeds $4,700.

ForesightNews 速递2025/11/28 15:05
How much is ETH really worth? Hashed provides 10 different valuation methods in one go

Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost

People tend to overestimate what can happen in two years, but underestimate what can happen in ten years.

深潮2025/11/28 14:53
Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost

Balancer Rallies to Recover and Redistribute Stolen Funds After Major Cyber Attack

In Brief Balancer plans to redistribute $8 million to users after a massive cyber theft. The recovery involved crucial roles by white-hat researchers rewarded with 10% incentives. Unclaimed funds will undergo governance voting after 180 days.

Cointurk2025/11/28 14:33
Balancer Rallies to Recover and Redistribute Stolen Funds After Major Cyber Attack