Bitcoin fell 20 percent over the past 90 days, lagging the S&P 500, which rose 5 percent over the same period. Glassnode said the market was unlikely to move away from a stock-led trend until bitcoin regains relative strength. Crypto has been the weakest major asset class this year, though July saw bitcoin and ether rise even as tech and semiconductor shares fell. BlackRock said decoupling could be a healthy diversification signal.

Software, cloud and small- and mid-cap growth shares that were overshadowed by AI megacaps in the first half could rebound over the next six months, a strategist said. ETF Action co-founder Mike Akins urged increasing exposure to segments that lagged major AI names, citing eased valuation pressure and resilient growth outlooks. He also highlighted disruptive-technology themes, potential catch-up in the Magnificent Seven and improving relative performance in smaller-cap indexes.