Bitcoin Lags Behind S&P 500 as Stock Rally Ignites

The S&P 500 has risen by 3.12% this month to a record market capitalization of $70.5 trillion, outperforming Bitcoin's modest 2% gain.

Bitcoin's price remains near $64,600 despite the stock rally, reflecting its limited exposure to current drivers such as AI and semiconductor stocks, which are leading the charge in equities.

Analysts attribute the performance gap to lower oil prices benefiting equities faster than digital assets amid Middle East shipping normalization, as well as cautious positioning ahead of an expected October cycle bottom.

The spot Bitcoin ETFs have seen uneven institutional demand, with a $61.53 million outflow breaking a three-week inflow streak, despite a $626 million intake this week.