Bitwise CIO: Bitcoin and other risk assets retreated, while value stocks were relatively resilient; market concerns suggest tech giant IPOs may have peaked.

On June 5th, Matt Hougan, Chief Investment Officer of Bitwise, wrote that despite strong US employment data, almost all asset classes, not just cryptocurrencies, are currently weakening, while value stocks are relatively resilient. He pointed out that there is concern in the market that the upcoming series of large tech IPOs may mark the temporary peak of this round of tech stock gains, and this sentiment may continue to intensify in the coming weeks. However, he believes that this does not necessarily mean the tech rally has peaked in the long term.