Bitcoin Treads Water as Equities Reach New Heights

Bitcoin's price has seen a modest increase of about 0.22% in the past 24 hours, trading near $64,684.

This comes as the broader CoinMarketCap 20 Index rose 0.33%, while US equities hover near record highs.

The divergence between Bitcoin's performance and that of US equities has become more pronounced since the start of this year.

Since January, the S&P 500 has returned over +25%, whereas Bitcoin is down around -35%.

This does not necessarily indicate a breakdown in Bitcoin's relationship with traditional risk assets, according to Thahbis Rahman, Research Analyst at Block Scholes.