Bitcoin Struggles to Keep Pace with Surging Stocks

Bitcoin's price movement is puzzling market observers as it hovers around $64,600, nearing the $65,000 mark without breaking through. This comes despite Wall Street stocks surging to fresh record highs.

The S&P 500 has reached 7,723 points and added roughly $2.1 trillion in market cap this month alone, a figure rivaling the size of the entire crypto market.

Vikram Subburaj, CEO of India-based exchange Giottus.com, described the current trading band as tight, with support forming near $63,000 to $63,400 and resistance sitting between $64,500 and $66,000.

The setup raises an obvious question: if stocks are surging, why isn't crypto keeping pace the way it usually does?