S&P 500 Hits Record Highs While Bitcoin Sleeps

The S&P 500 has reached record highs near 7,800, up roughly 13% this year, but Bitcoin remains stuck at $63,500, essentially flat and down slightly on the year.

This divergence is notable, as it demolishes a common assumption that a strong stock market will automatically lift crypto.

The current tide is flowing selectively into equities and AI, with institutions reallocating away from Bitcoin, not toward it. This is evident in Bitcoin's ETF outflows this year.