#MarketRebound The market rebound is showing promising signs, driven by various factors such as major index turnarounds, tech-led rallies, and optimism around trade discussions.
*Key Market Trends:*
- *S&P 500 Recovery*: The S&P 500 has closed above the 6,000 level, marking a full recovery from its early-April dip, driven by a strong May jobs report with 139,000 new jobs and steady unemployment at 4.2%.
- *Tech-Led Rally*: Mega-cap tech stocks, including the "Magnificent Seven" like Apple, Microsoft, Nvidia, and Meta, have been at the forefront, with semiconductor and chip stocks seeing strong rebounds amid hopes for eased U.S.-China tech export restrictions.
- *Trade Optimism*: Resumed U.S.-China discussions in London have boosted investor confidence, with hopes that broad tariffs won't return ¹.
*Cryptocurrency Market:*
- *Bitcoin's Surge*: Bitcoin has climbed to $93,000-$106,000, with some predictions suggesting it could reach $107,000-$108,000.
- *Ethereum's Growth*: Ethereum is trading at around $2,600-$2,700, with a 6.78% increase in 24 hours and potential targets of $2,640, $2,690, and $2,750 ².
*Market Outlook:*
The current market rebound is characterized by:
- *Volatility Moderation*: The VIX, or Wall Street's fear gauge, has dropped back toward long-term averages.
- *Bullish Momentum*: The Golden Cross formation in Bitcoin's chart suggests a potential surge to $140,000, with altcoins poised for significant growth ².
