Understand the Drivers

For every asset you own, it's essential to understand its drivers.

We do this all the time when looking at the components of ETFs and funds and evaluating intermarket correlations, and crypto shouldn't be any different.

As we outlined in yesterday's note, the recently observed increased correlation between Bitcoin and legacy markets is something to be mindful of in the near term.

Volatility in the macro environment is likely to be a headwind for most major crypto assets in the coming weeks.