The crypto market and the U.S. stock market are diverging, with the S&P 500 rising for nine consecutive weeks to a new high, while Bitcoin and Ethereum weekly charts closed lower.

Deep Tide TechFlow news: On May 30, amid rising expectations of easing tensions between the U.S. and Iran, the U.S. stock market continued its upward trend this week. The S&P 500 index rose for the ninth consecutive week, setting a new record for the longest winning streak since 2023, and the Dow Jones Industrial Average also first moved above 51,000 points. At the same time, Brent crude oil held near $92 per barrel.

By contrast, the cryptocurrency market failed to keep pace with the gains in traditional risk assets. Over the past week, Bitcoin fell 2.6% to $73,445, Ethereum dropped 2.5% to $2,011, Solana declined 2.2%, and TRX fell by 5.6%, making it one of the weaker performers among the top ten cryptocurrencies by market cap. Market participants generally believe that slower net inflows into spot Bitcoin ETFs has put some pressure on the crypto market.

However, some small- and mid-cap assets performed impressively. Among them, HYPE surged 19.4% this week, briefly breaking above $67 and reaching a new all-time high, becoming one of the most watched star assets in the market.

In addition, BNB rose 1.9% this week, XRP increased 0.7%, and DOGE was basically flat. Overall, the divergence between crypto and U.S. stocks has recently become more pronounced. Market participants believe that, amid a recovery in macro risk appetite, crypto assets still face pressures from capital rotation and structural differentiation.