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S&P 500 hits nine-week winning streak as crypto lags amid cooling bitcoin ETF demand

Market News
30 May 2026, 08:41 WIB
Coindesk
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Bearish
S&P 500 hits nine-week winning streak as crypto lags amid cooling bitcoin ETF demand

The S&P 500 achieved its longest weekly winning streak since 2023, rising nearly 20% from March lows, supported by hopes of a U.S.-Iran ceasefire extension. Brent crude stabilized near $92 a barrel, and Treasuries recovered some losses. However, major cryptocurrencies like bitcoin and ether fell 2-6% due to reduced spot bitcoin ETF inflows, despite the positive macro environment. Smaller tokens such as Hyperliquid's HYPE surged nearly 20%, while BNB and XRP posted modest gains. The macro rally remains fragile, dependent on progress in U.S.-Iran negotiations and President Trump's final approval of the ceasefire deal.

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