U.S. Stock Indices Soar While Crypto-Linked Equities Slump
Source Tradingkey
TradingKey – Despite a strong rally across major U.S. stock indices, crypto-related stocks fell sharply, dragged down by a broader correction in the digital asset market.
Wall Street Hits New Highs
On Wednesday, all three major U.S. indices posted solid gains:
- Nasdaq Composite rose 0.61%, closing at 21,020 points
- S&P 500 climbed 0.78% to 6,358 points
- Dow Jones Industrial Average surged 1.14% to 45,010 points, setting a new all-time high
S&P 500 Chart – Source: Google
Crypto Stocks Lag Behind
While traditional equities rallied, crypto concept stocks failed to follow suit:
- Marathon Digital (MARA) plunged nearly 12%
- GameSquare (GAME) dropped 8%
- BTCS fell 7%
- Strategy (MSTR) declined over 3%
- Coinbase (COIN) slipped almost 2%
The downturn was largely triggered by a sharp pullback in the crypto market.
Crypto Market Correction Weighs on Sentiment
According to CoinGecko, the global crypto market dropped 6% in the past 24 hours, wiping out over $100 billion in market cap.
- Bitcoin (BTC) fell 0.5%
- Ethereum (ETH) declined 2.5%
- Ripple (XRP) tumbled 8.8%
This divergence highlights the growing decoupling between traditional equities and crypto-linked assets, especially during periods of digital asset volatility.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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