🔥📰 Crypto markets are trading the macro beat today as risk sentiment cools and TradFi keeps flexing.
📈 US stocks closed higher with AI momentum leading the charge—Micron surged nearly 10%, while the S&P 500 climbed and the VIX slid, signaling less fear.
📊 But the backdrop looks stretched: the US stock market cap-to-GDP ratio jumped to a record 238%, far above historical tech-bubble levels—raising fresh questions about valuation risk.
⚠️ In the same spirit, Serenity is cautioning against overly bearish headlines from big banks, arguing that waves of negative “signal” news can actually point to liquidity needs rather than clean top calls.
🌍 Meanwhile, volatility eased across crypto—BTC and ETH volatility measures dropped sharply—while gold and oil retreated and European equities leaned mixed-to-weaker.
💰 And the AI/compute funding pipeline stays massive: Apollo and Blackstone reportedly raised $35B for Anthropic’s chip push, underscoring how capital is still pouring into the AI infrastructure cycle.