U.S. stocks have risen for five consecutive days, with technology and blockchain resonating: What will be the next step for the cryptocurrency market?
U.S. stocks closed early due to Thanksgiving, but market sentiment remains strong. The three major indices have risen for five consecutive days:
• Nasdaq +0.65%, cumulative +4.91% this week
• S&P +0.54%, cumulative +3.73%
• Dow +0.61%, cumulative +3.18%
Technology stocks are broadly strong, with Intel rising over 10% in a single day, and Meta, AMD, Microsoft, and others collectively rising. Alongside technology, blockchain concept stocks have also generally risen:
• Circle (CRCL) +10.04%
• Coinbase (COIN) +2.96%
• MicroStrategy (MSTR) +0.88%
This is an important signal: The crypto market is following the tech stocks to start the next round of strong trend cycles.
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01 ｜ What does the rise of technology stocks mean?
The strong rebound of tech stocks is driven by market expectations of two things:
1. The Federal Reserve has entered the countdown to pause interest rate hikes
In the past month, CPI and PPI have continued to decline, and the market generally believes that the Federal Reserve has ended this round of tightening cycle.
👉 Interest rate decline = Risk assets flowing back = Crypto assets are the first to react
2. AI, semiconductors, and cloud computing continue to drive risk appetite
Technology is the wind vane of capital sentiment; as long as technology continues to strengthen, crypto assets usually gain synchronous premium.
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02 ｜ Why are blockchain stocks rising across the board?
The rise of blockchain concept stocks is not accidental, but a resonance of three forces:
1. The spot Bitcoin ETF is getting closer
ETF is the biggest fundamental event in crypto this year. Funds are proactively positioning in Coinbase, MicroStrategy, and other 'BTC proxy targets', which is normal pricing.
2. The crypto narrative is shifting from 'speculation' to 'infrastructure cycle'
The rise of Circle is particularly noteworthy. USDC is the entry point for all-chain payments and institutional funds; its rise represents a trend:
👉 Institutional funds are flowing back to Web3
👉 The core of the next bull market is not Meme, but 'on-chain real usage'
3. US tech companies are strong, driving crypto tech stocks to rebound synchronously
AI and blockchain are strongly bound: AI needs on-chain identity, on-chain model invocation, on-chain payments, which will trigger a new market:
👉 AIA (AI + Crypto + Agent) narrative is quietly starting
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03 ｜ How will the crypto circle proceed? Three major trends are already very clear
Combining the Federal Reserve's path, blockchain stock performance, and BTC on-chain data, I believe the crypto market is likely to head towards in the next 3 months:
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① Large-scale trend: BTC is expected to enter a new round of major upward wave
Reasons include:
• ETF strong catalyst
• Strong institutional inflow
• The supply of long-term holders has reached a historic low
• US tech is strong, and risk appetite is rising
• Federal Reserve cycle reversal
If BTC breaks through the key range, it will directly open up 10–15% of accelerated space.
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② Intermediate trend: ETH and high-quality infrastructure will outperform BTC
Especially:
• L2 sector
• RWA
• Cross-chain protocols
• Stablecoins and payments
• AI x Crypto
• Agent Infra (identity, wallet, automation)
The rise of 'stable blue-chip stocks' represented by Circle means:
👉 The next funding target is not gambling, but on-chain infrastructure for real use.
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③ Small-scale trend: Meme will rebound, but the main line is not them
In the short term, there will be capital games, but from the perspective of institutional expectations and tech stock linkage:
👉 The 2024–2025 bull market is not a Meme bull, but an 'AI + on-chain real usage' bull.
What can outperform the market will be:
• Doing AI Agents
• Doing on-chain identity
• Doing on-chain payments
• Leading infrastructure providers
• High availability protocols (cross-chain, data verifiability, ZK)
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04 ｜ Summary: The crypto circle is entering a 'strong certainty upward window'
The continuous rise of US tech stocks and the overall strength of blockchain stocks is a very strong pre-signal:
– The technical cycle is starting
– Risk capital is flowing back
– ETF expectations are strengthening
– AI x Crypto accelerating integration
In other words:
This is not the top of the bull market; it's the eve of the bull market??
