## Ether's Summer Surge Leaves Bitcoin Behind

Since early July, **ether** has dramatically outpaced **bitcoin**, surging 44% compared to bitcoin's modest 4% gain. This performance has caught the attention of investors, but a potential reversal could spell trouble for the stock market.

## A Warning Sign for Market Volatility

According to Tom Essaye, founder and president of Sevens Report Research, if **ether begins to lag bitcoin again**, it could serve as a critical warning signal. Historical data suggests that such a shift often precedes increased **stock-market volatility**, with the **S&P 500** at risk of a significant pullback—potentially between 10% and 20%.

![Cryptocurrency coins on US dollar banknotes.](https://images.mktw.net/im-78956230?width=1260&height=840)

*Photo: Getty Images*

This correlation highlights the interconnectedness of **crypto and traditional markets**, emphasizing the importance of monitoring these signals for broader economic insights.

If ether begins to lag bitcoin again, it could be a warning sign that stock-market volatility is about to increase, with the S&P 500 potentially facing a decline of around 10% to 20%.

Crypto Signal Flashing Red: Could Ether's Lag Trigger a 10-20% S&P 500 Crash?

## Jack Dorsey Reaffirms Bitcoin's Original Vision

**Jack Dorsey**, the co-founder and CEO of **Block**, has once again emphasized his belief that **Bitcoin** (CRYPTO: BTC) should be used as a daily transactional currency rather than merely a store of value. This perspective was shared on social media platform X, where Dorsey expressed agreement with **Robin Linus**, the creator of **BitVM**.

Linus argues that Bitcoin was originally designed as a private, peer-to-peer electronic cash system, citing the **Bitcoin whitepaper** as evidence. He describes this as the true "cypherpunk vision," asserting that the narrative of Bitcoin as a "digital asset" was introduced later by others. "Bitcoin's purpose is payments—store of value is just a neat byproduct," Linus stated.

However, not everyone is convinced. An X user named **RVing Orchardist** countered this view, pointing to the message encoded in **Bitcoin’s Genesis block**. This message references a headline from The Times dated January 3, 2009, about the UK government's bank bailout during the financial crisis. Supporters believe this challenges traditional banking systems and highlights Bitcoin's potential for financial sovereignty.

The user also noted that **Satoshi Nakamoto**'s P2P Foundation profile lists their birthday as April 5, which coincides with the date President **Franklin D. Roosevelt** signed Executive Order 6102, making it illegal for U.S. citizens to own most gold. This historical context adds depth to the debate over Bitcoin's intended use.

Dorsey has been a vocal advocate for using Bitcoin as an everyday currency, aligning with Nakamoto's original proposal. His stance continues to spark discussions within the cryptocurrency community about Bitcoin's core purpose and future applications.

Jack Dorsey, co-founder and CEO of Block, reaffirmed on Wednesday his belief in Bitcoin’s (CRYPTO: BTC) use as a daily transactional currency rather than a store of value. Bitcoin As A Payment Medium Dorsey took to X, expressing his agreement with BitVM creator Robin Linus‘ argument that Bitcoin was envisioned as a private, peer-to-peer electronic cash system. Citing the Bitcoin whitepaper, Linus deemed the electronic cash use case the original “cypherpunk vision,” and that the “digital asset” n

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