US Stock Market Reaches New High as Cryptocurrency Prices Decline

The US stock market continued its strong performance this week, with the S&P 500 index reaching a new high after nine consecutive weeks of gains. In contrast, the cryptocurrency market saw declines across the board.

Bitcoin fell by 2.6% to $73,445, while Ethereum dropped by 2.5% to $2,011. Solana and TRX also saw significant losses, with Solana falling by 2.2% and TRX plummeting by 5.6%. However, some smaller tokens such as HYPE, the native token of Hyperliquid, surged by 19.4% to around $65.

Market analysts point out that the cooling of inflows into spot Bitcoin ETFs may be putting pressure on the coin's price. The US stock market and oil prices remain strong, but experts caution that the current rebound is fragile and could reverse quickly with any negative news related to Iran negotiations.