Bitcoin Fails to Track US Stocks Despite S&P 500 Surge, Weighed by Specific Factors

Digital FinancePrice Action
โดย CoinDesk·US·Read original
Summary · why it matters

Bitcoin has risen just 2% this month, trading at around 64,600 US dollars, while the S&P 500 index has surged 3.12% to a new record high of 7,723 points, with a total market value of 70.5 trillion US dollars. The stock rally has been driven by AI and semiconductor shares, to which Bitcoin has very little direct exposure, according to Adam Haeems, head of asset management at Tesseract Group, which oversees more than 500 million US dollars. In addition, the crypto market is facing pressure from a 120 million US dollar Coldcard exploit, three consecutive months of Bitcoin selling by Strategy, and rising bond yields that have pushed USDT supply to its lowest level since 2025. Many investors are still waiting for the cycle bottom around the October halving, and ETF inflows remain unsustainable. This week saw inflows of 626 million US dollars, but a sustained trend is needed to confirm a recovery in institutional demand.

Impact on stocks 2

Digital Finance & Tokenization▼ · 1 stocks
MicroStrategy Incorporated
MSTR
▼ NegativeCapitalrelevance

Strategy selling Bitcoin for three consecutive months pressures the crypto market, negatively impacting MicroStrategy's holdings.

Others▲ · 1 stocks

Theme Impact 1

Off-coverage companies 2

CoinkitePrivate▼ Negative
Regulationrelevance

Coldcard exploit of 120 million dollars negatively impacts Coinkite, the maker of Coldcard.

Tesseract GroupPrivate± Mixed
relevance

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