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Stock Market Rally Overshadows Cryptocurrency Market as Traditional Assets Surge
Stock Market Rally Overshadows Cryptocurrency Market as Traditional Assets Surge
15
2
BTCCSquare news:
The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) reached near-record highs amid resilient economic data, drawing attention away from cryptocurrency markets. U.S. GDP growth was revised upward to 3.3%, while unemployment claims remained stable despite trade policy volatility.
Consumer spending, accounting for 70% of GDP, ROSE 1.6% in Q2—a positive signal for risk assets overall. This traditional market strength creates a competitive environment for digital assets seeking capital inflows.
No direct cryptocurrency mentions emerged in this economic report, though the broader risk-on sentiment could indirectly benefit major coins like BTC and ETH if equity momentum spills into alternative assets.
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