Bitcoin Stalls at $64,600 Amid Stock Rally and Dovish Fed

Bitcoin's price movement has been puzzling market watchers as it hovers around $64,600 in early August 2026. The token has repeatedly attempted to break through the $65,000 threshold but so far has not managed to do so.

The S&P 500 has climbed to fresh record highs near 7,700, driven by solid corporate earnings and optimism about fading energy-related inflation risks. In contrast, Bitcoin's price movement has been relatively flat, gaining just 2% this month compared to the S&P 500's 3.12% surge.

Analysts note that institutional appetite for Bitcoin remains uncertain, with U.S.-listed Bitcoin ETFs experiencing a recent outflow followed by a large influx of capital. The setup raises questions about whether the Federal Reserve's easing stance on interest rates is having a positive impact on risk assets like cryptocurrencies.