S&P 500 at all-time highs. Consumer sentiment at 74-year lows. Nasdaq has now posted 11 straight days of gains. BTC is 41% below its peak. Last time BTC diverged from equities like this was November 2021. Two months later the S&P started a 25% crash that lasted 9 months. The question isn't whether BTC is wrong. It's whether equities are.
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