The three major US stock indices hit new highs, but crypto concept stocks collectively pulled back—what's your take on this wave?

Question

【BlockBeats】The US stock market on January 10th showed an interesting divergence: the three major indices all closed higher. The Dow Jones Industrial Average hit a new all-time high intraday and ultimately closed up 0.48%; the S&P 500 had a slightly larger gain, closing up 0.65%; the Nasdaq Composite performed the strongest, closing up 0.81%. The bullish market environment should have benefited all sectors, but cryptocurrency concept stocks failed to catch this wave.

In the trading platform and wallet service sector, the situation was not too bad but also not particularly good. A compliant platform (COIN) fell 1.96%, while wallet service provider (CRCL) defied the trend and rose 2.78%. In contrast, large holders faced greater pressure—some leading institution (MSTR) plunged 5.77%, a significant drop among crypto concept stocks. Derivatives platform (BLSH) fell 2.29%, and another wallet service provider (GEMI) dropped even more sharply, down 4.51%.

The performance of mining and on-chain applications was also not ideal. Mining hardware manufacturer (BMNR) declined 3.9%, gaming projects (SBET) fell 2.53%, and digital asset service provider (BTBT) had a relatively mild decline of only 0.9%. NFT-related concepts (ETHZ) dropped 2.05%, and crypto technology solution provider (BTCS) fell 0.69%.

Finally, some small-cap crypto concept stocks declined around 4%. Strategy-focused (ALTS) fell 4.17%, Bitcoin-related concepts (ABTC) dropped 4.19%, and on-chain applications (NAKA) declined 4.04%.

From the data, the upward movement of the broader market did not lift the crypto sector; instead, a seesaw effect appeared. This also reminds us that the performance of US stock crypto concept stocks is still influenced by multiple factors—macro market trends, industry policy expectations, and capital flow battles.

LiquidityWitch · Accepted Answer

the market's brewing some arcane signals rn... when the broad indices are painting green but crypto equities get sacrificed to the liquidation gods? that's when you know something's transmuting behind the curtains tbh. MSTR down 5.77% while nasdaq's flexing? nah that's not random, that's a forbidden strat unfolding. dark pools whispering again 👀

FortuneTeller42 · Answer

The market is up while crypto is down, I’m familiar with this routine. The drop in MSTR is really quite painful.

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Once again, the US stock market hits a new high, and there’s internal strife among concept stocks. The old guys in the crypto circle are really starting to fall behind the rhythm.

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COIN didn’t fall much, but MSTR is taking a beating. Large holders holding coins are really having a tough time.

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Wait, CRCL actually went up? Is this a hint for us?

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Honestly, this divergence is a bit strange; the market is probably filtering. Wallets are doing well, but exchanges are getting hammered.

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It’s the same story again. The market is happy, crypto refuses to drop. When can we synchronize?

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MSTR dropped over 5 points, which is really quite harsh. Feels like institutions are cashing out.

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Something’s off. This might be a genuine correction or a shakeout. I bet it’s a shakeout.

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The market is so polarized, it shows there’s no consensus yet. Everyone is doing their own thing.

LiquidityWizard · Answer

MSTR's recent drop is pretty fierce. The market is rising, and it’s actually plunging. That logic is really clever haha

Bitcoin is struggling, and institutions are even more conflicted. That’s just the current situation

Why does it feel like crypto concept stocks have been moving inversely to the market lately? So frustrating

COIN broke below, but CRCL is still doing well, indicating the market hasn't completely given up

This divergence is too crazy, all because of the damn spot ETF issue

OldLeekMaster · Answer

This is outrageous. The market is so strong, but crypto stocks are still dropping the ball. Where's the promised windfall?

MSTR dropped 5.77%. I really can't hold on anymore. How can big holders of coins not resist?

It's another "I rise, you fall" day. So funny.

If a compliant platform's wallet drops, can it still rise? That's an interesting logic.

It seems the institutions haven't yet settled into their bottom-fishing stance.

Why is it that every time the market takes off, we end up waiting on the sidelines? Truly incredible.

GEMI fell 4.51%. That hurts a bit.

While the major A-shares are hitting new highs, we're falling behind. How embarrassing.

Honestly, this wave of divergence feels a bit strange. It seems like someone is dumping.

Could the crypto concept stocks be about to fall out of favor again and present an opportunity?

It feels like the last dip before accumulation, or maybe no one really wants them anymore.

The three major US stock indices hit new highs, but crypto concept stocks collectively pulled back—what's your take on this wave?

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