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But we saved everything 🙂.
Anndy Lian reports that the cryptocurrency market surged 1.31 percent to $2.27 trillion amid a broad risk rally. He highlights that digital assets are showing an 89 percent correlation with the S&P 500.
Institutional optimism and capital flows into artificial intelligence are cited as the main drivers behind the gains in both traditional equities and digital assets.
Earlier this month, Lian reported that Bitcoin fell 6.09 percent to $66,867.60 as institutional capital exited digital assets. Separately, he has noted that Elon Musk’s $1.2 trillion net worth equals 3% of nominal U.S. GDP. These observations come amid renewed focus on institutional participants in both digital asset and equity markets.