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Russell 2000 hits record high but altcoins stay muted

The Russell 2000 has set a record high, but analysts said the move differs from past cycles as altcoins have not followed. They said the correlation between the Russell 2000 and altcoins has turned negative for the first time since July 2016, shaking the altseason narrative. Some analysts cited signs of expanding Federal Reserve liquidity as supportive for risk assets, while others warned technical charts point to weakness and the shift reduces the usefulness of past patterns.