Jurrien Timmer of Fidelity said the artificial intelligence trade could be nearing its end following the massive funding provided to companies such as OpenAI and Anthropic. The S&P 500 could still continue rising, but Timmer cautioned that a market dominated by a few large companies may not have enough breadth to keep the index advancing. A rotation of capital into crypto remains uncertain because risk appetite and available funding appear to be dwindling, while cybersecurity and Bitcoin’s quantum-resistance concerns persist. A durable crypto recovery would require higher highs, consistent inflows into institutional products such as ETFs, and confirmation of a bull market across major cryptocurrencies.
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