Unexpected Weakness in US Tech Stocks, Bitcoin Shows Independent Trend
Over the past week, following a strong upward momentum, the market experienced a retreat influenced by the US stock market. Has this round of rebound reached its peak? Recently, although calls for a US interest rate cut have been increasing, the US stock market seems to be reacting faster. The former president of the New York Federal Reserve suggested an immediate rate cut, signaling a hawkish shift. Ethereum spot ETFs were launched, but inflows failed to reverse the pressure from Grayscale selling, causing a brief stampede effect on Ethereum prices and putting some altcoins under pressure. However, buoyed by positive news from the Bitcoin conference, Bitcoin continues to rise, with short-term prospects suggesting continued weak oscillation.
