Citigroup's latest research report suggests that the overall cryptocurrency market has shown weakness since the launch of the US Ethereum spot ETF on July 23. The report indicates that both Bitcoin and Ethereum spot ETFs have experienced net outflows over the past month, highlighting a decline in cryptocurrency demand. Search interest and online activity have been sluggish, with futures funding rates even turning negative in August. Citi analyst David Glass stated that ETF fund flows could remain subdued until there is clarity on the US economic "soft landing" or "hard landing" prospects. Notably, the stablecoin market has been bucking the trend, with supply continuing to increase during the market correction in August. Citi attributes this trend to the complexity of the crypto market and the diverse attitudes of investors towards different crypto assets. (Coindesk)