Bitcoin Lags Gold and S&P 500, but Historical Patterns Suggest a Catch-Up
Bitcoin has recently underperformed as gold and U.S. equities continue to climb. Gold surged past $3,800 per ounce, setting another record, while the S&P 500 remains just below 6,700, highlighting a divergence between crypto and traditional markets.
Despite trading under $115,000, Bitcoin remains in a bullish trend, though it has periodically lagged the S&P 500:
- March–July 2024: S&P 500 rose from 4,000 to 4,600, while BTC fell from under $30,000 to $25,000.
- April–October 2024: S&P 500 climbed 5,200 to 6,000, while BTC only resumed its rally in November.
Since May 2025, Bitcoin has consolidated between $110,000–$120,000, even as the S&P 500 advanced. Analysts suggest that such historical divergences often precede a catch-up phase for Bitcoin, signaling potential upside ahead.
