Global Market Experiences Great Divergence Between Stocks and Cryptocurrencies

The global market is currently undergoing an extreme 'great divergence', with a strong sense of split between US stocks and the cryptocurrency market.

US stocks are experiencing a surge, with both the Nasdaq and S&P 500 reaching new all-time highs. The Philadelphia Semiconductor Index has surged over 5%, while Micron Technology and Intel have climbed over 15% and 13%, respectively.

Meanwhile, Bitcoin (BTC) has dropped below $81,000, a key level that was 'precisely broken'. Despite rising 20% since April, CryptoQuant labels this as a 'bear market rebound', with profit-taking selling putting pressure on the market.