Correlation between crypto and traditional finance deepens as major institutions enter market

From Investing.com

December 19, 2024 3:30:20 pm:

The correlation between the cryptocurrency market and traditional finance has deepened this year with the introduction of BTC and ETH ETFs and the entry of major financial institutions like BlackRock and Fidelity. Some cryptocurrencies now mimic stock market indices. Large transfers of 1,762 BTC and 20,467 ETH to exchanges stir speculation of major player sales. Despite this, Bitcoin and Ethereum prices remain in the green, with Bitcoin up over 2.1% and Ethereum trading positively.

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