Stocks Are Bouncing. Crypto Is Still Asking for Proof. The U.S. market is showing risk appetite today , but crypto is not fully confirming it yet. That divergence matters. $QQQ is green. $TSLA is holding positive. $MSTR is outperforming. But $BTC and $ETH are still under pressure. That tells me the market is not in a full risk-on mode yet. Equity traders are willing to buy selected growth and crypto-linked exposure , but spot crypto is still waiting for stronger confirmation. This creates an important setup. If $BTC reclaims strength while $QQQ stays firm , crypto beta can wake up fast. That would put $ETH , $SOL , $SUI , $NEAR and $AVAX back into focus. It would also support public crypto-access names like $MSTR , $COIN and $HOOD. But if stocks stay green while $BTC keeps fading , that is a warning. It means capital is choosing equity exposure over direct crypto exposure. That usually makes altcoin rallies fragile. AI and tech remain the key leadership zone: $NVDA , $AMD , $MU , $MRVL and $ARM still define the hardware trade. $CRWD , $PLTR and $AAOI represent the hidden AI infrastructure layer. But crypto needs its own confirmation. My read: This is not a clean bull signal. It is a divergence test. Stocks are saying risk appetite exists. Crypto is saying liquidity is still cautious. The next major signal is simple: Does $BTC catch up… or do equities leave crypto behind?