Bitcoin and most altcoins are likely to remain range-bound for a few more days before resuming the next leg of the up move.
The US markets have rallied sharply from their March lows, led by the tech sector and Fed injections designed to hold up the ailing economy.
Markets across the globe have also joined the party as a steady economic recovery from the coronavirus pandemic picks up steam.
The fast-paced rally in global stock markets has pushed the Buffett Indicator into the bubble territory, which suggests that the markets might be overheated in the short-term.
Similarly, gold has seen a sharp rally in 2020 and last week the asset reached a new lifetime high.