Crypto Falls Behind Stocks as AI-Linked Equities Take Center Stage

The US stock market has reached record highs, but the cryptocurrency market is not following suit. The S&P 500 equal-weight index hit new highs, while crypto assets decoupled from the rally.

This divergence points to a capital rotation between AI-linked equities and speculative digital assets. DOGE (Dogecoin) and HYPE (Hyperliquid's token) were among the weaker performers in the crypto market last week.

The distinction between these two markets is crucial because crypto often moves first on headlines, only later separating durable developments from short-lived momentum. In this case, the verified boundaries are especially important: Do not say the crypto cycle has permanently peaked.