花旗说，股票与加密货币市场之间的关系可能会削弱

尽管股票一直是加密市场中最重要的宏观驱动力，但随着新生资产类的成熟，股权 - 瑞典相关性可能会随着时间的流逝而下降

Wall Street bank Citi highlighted the weakening relationship between the stock and crypto markets in a research report on Monday. The report noted that while equities have been and continue to be the primary macro driver for crypto markets, this correlation is likely to diminish over time.

华尔街银行在周一的研究报告中强调了股票与加密货币市场之间的弱点。该报告指出，尽管股票一直并继续成为加密市场的主要宏驱动力，但这种相关性可能会随着时间而减少。

According to Citi, several factors contribute to this decreasing correlation, including the maturation of the crypto market, an expanding investor base, technological advancements and increased adoption. However, the bank also pointed out that the speculative nature of cryptocurrency markets may lead to inflated risk asset correlations, particularly during periods of risk aversion.

根据花旗的说法，几个因素导致了这种减少的相关性，包括加密市场的成熟，不断扩大的投资者基础，技术进步和采用增加。但是，该银行还指出，加密货币市场的投机性质可能导致风险资产相关性膨胀，尤其是在规避风险时期。

The report highlighted that a more transparent regulatory regime in the U.S. will lead to more idiosyncratic price action, as noted by analysts led by Alex Saunders.

该报告强调，正如亚历克斯·桑德斯（Alex Saunders）领导的分析师指出的那样，美国更透明的监管制度将导致更特殊的价格行动。

Regarding Bitcoin volatility, the bank anticipates a long-term decline as institutional adoption grows. Citi also noted that crypto was the only asset class that saw its market cap, expressed as a percentage of U.S. equities, increase over the past year.

关于比特币的波动，随着机构采用的增长，该银行预计长期下降。花旗还指出，加密货币是唯一看到其市值的资产类别，其表达为美国股票的百分比，在过去一年中增加。

Finally, the report suggests keeping an eye on Bitcoin's correlation to gold, as it could serve as an early indication of the "store of value use case."

最后，该报告建议密切关注比特币与黄金的相关性，因为它可以作为“价值用例存储”的早期迹象。