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📊 A curious divergence is unfolding in the markets. The S&P 500 finished 1.5% higher, ending the session just below a new all-time high. At the same time, $BTC slipped to around $62,400. Both are considered risk assets—so why are they moving in opposite directions? 📈 Stocks continue to benefit from strong corporate earnings. Solid revenue, resilient margins, and upbeat guidance are helping equities absorb concerns over higher interest rates. 🟠 Bitcoin, however, doesn't have earnings to support sentiment. Instead, it remains highly sensitive to liquidity expectations. With markets pricing in a higher probability of another rate hike, crypto has faced renewed pressure. 📉 Despite roughly $170 million in ETF inflows on Monday, Bitcoin's price showed little response—suggesting meaningful selling pressure is absorbing demand. The current narrative is straightforward: • Stocks are being driven by earnings. • Bitcoin is being driven by liquidity. 👀 Key levels to watch: • Friday's U.S. jobs report could shape the next major move across risk assets. • $63.3K remains an important technical level. A sustained move above it, supported by continued ETF inflows, could indicate selling pressure is fading. • A break below $62K may strengthen the bearish case if tighter liquidity continues to weigh on the market. $BTC #FedSplitGoesPublic #BigTechEarningsWatch #PalantirBeatAndRaise