The U.S. stock market on January 10th showed an interesting divergence pattern. Overall, the three major indices performed well — the Dow Jones Industrial Average hit a record high intraday, closing up 0.48%; the S&P 500 rose by 0.65%; and the Nasdaq Composite performed the strongest, closing up 0.81%. While the market was generally positive, cryptocurrency concept stocks did not keep pace.

This time, cryptocurrency concept stocks were under pressure across the board. Coinbase (COIN) fell by 1.96%, Gemini (GEMI) declined even more, by 4.51%. The performance leader MicroStrategy (MSTR) did not perform well, dropping by 5.77%. Other concept stocks also showed weakness, with Circle (CRCL) being one of the few to rise, up 2.78%; while Bullish (BLSH) fell by 2.29%, Bitmine (BMNR) dropped 3.9%, and SharpLink Gaming (SBET) declined by 2.53%. Among digital asset-related companies, Bit Digital (BTDT) was relatively resilient, with only a 0.9% decline, but ETHZilla (ETHZ) fell by 2.05%, and American Bitcoin (ABTC) and ALT5 Sigma (ALTS) declined by 4.19% and 4.17%, respectively.

It is worth noting that even though the overall market was positive, the adjustment in cryptocurrency concept stocks was still significant. This may reflect investors' cautious attitude toward this sector in the short term.