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Recently, Bitcoin has indeed been having a tough time. After falling for seven consecutive trading days, it has now slipped to around $88,000. If this trend continues, it is very likely to set the longest losing streak since May 2023.
Interestingly, while the crypto market is in the red, traditional finance has quietly rebounded. The Dow Jones Industrial Average rose by 0.6%, and the S&P 500 also gained 0.5%. This contrast is indeed worth pondering—Bitcoin is dropping while the US stock market is climbing. This divergence between cryptocurrencies and traditional stocks mostly reflects differences in market participants' sentiment and shifts in capital flow.