re split – the Nasdaq 100 rose 0.9% while the Dow fell 0.3% – and Treasury yields eased slightly, which can make riskier assets feel a bit more attractive.

Why should I care?

For markets: Volume is the market’s lie detector.

Prices can jump on light trading, but this bounce came with more action: total crypto trading volume hit about $158.5 billion, and bitcoin alone saw $38.2 billion change hands in 24 hours. More volume usually means better liquidity – basically, it’s easier to buy and sell without moving prices too much – and that can draw in bigger, rules-based investors. It also shows crypto can decouple from stocks at times, even on a day when equity markets couldn’t agree on a direction.

Zooming out: Rates still set…