Bloomberg analyst McGlone: ETH price movement is highly correlated with risk assets.

According to the Gate.io News bot, Wu Shuo reported that Bloomberg commodity strategist Mike McGlone pointed out that ETH shows a significant correlation with risk assets. In the current market environment, the price of ETH has reached the $2000 mark, which has become an important reference for observing the direction of risk assets.

McGlone further analyzed that with the performance of the US stock market, the price of ETH may fall back to the $1,000 level later this year. At the same time, he emphasized that the price trend of Bitcoin has a significant impact on other cryptocurrencies, especially causing considerable fluctuations in the price performance of leading altcoins.