According to Odaily, Forexlive analyst Adam Button has observed an unusual divergence between the cryptocurrency market and the stock market. While Bitcoin experienced a 3% decline, the Nasdaq 100 surged by 2.5%, reaching its highest point of the day. This discrepancy may be attributed to concerns within the crypto market regarding the liquidation and distribution of Mt.Gox assets. Despite Bitcoin's downturn, the Nasdaq has nearly returned to its closing level from July 31. At that time, a Federal Reserve decision had caused a significant rebound in the Nasdaq, which was followed by a severe global market crash.
Since last Monday, the Nasdaq has shown a remarkable recovery, especially when compared to its intraday low on August 5. The index has risen by 12% from that point, which represents a substantial annual return for most fund managers. Part of this rebound can be credited to the emergence of AI-driven trading, but the primary driver appears to be renewed confidence in the strength of global economic growth.