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Crypto Market Weakens Even as S&P 500 Extends Rally to Nine Straight Weeks

Crypto Market Weakens Even as S&P 500 Extends Rally to Nine Straight Weeks

  • The S&P 500 has risen for nine straight weeks in the U.S. stock market, while cryptocurrencies have weakened.
  • Over the past seven days, Bitcoin has fallen 2.46%% and Ether has dropped 2.18%%, failing to rebound.
  • Some altcoins, including Stellar and Hyperliquid, rose 81.09%% and 18.72%%, respectively.

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Bitcoin and Ether fell despite a continued rally in U.S. stocks, underscoring a divergence between cryptocurrencies and broader financial markets.

CoinDesk reported on May 30 that the S&P 500 rose for a ninth consecutive week, marking its longest weekly winning streak since 2023. Brent crude also stabilized near $92 a barrel on expectations that the ceasefire between…

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