Bitcoin posted a notable win against U.S. stocks on Monday, reversing its recent tendency to trail the broader equity market.
BTC jumped 2.6% to move above $64,000, marking its strongest daily advance in more than a month, according to CoinDesk data. By comparison, the S&P 500 declined 0.52%.
The move was significant because Bitcoin not only outperformed equities but also moved in the opposite direction. Historically, BTC has behaved as a high-beta risk asset, meaning its price generally swings more sharply than stocks during both rallies and sell-offs.
Glassnode said Bitcoin’s recent outperformance of the stock market has become increasingly uncommon. The blockchain analytics firm found that BTC beat the S&P 500 on only about one-third of trading days over the previous three months.
Over that period, Bitcoin has largely lagged behind the benchmark equity index. The persistent underperformance suggests BTC has recently behaved less like a high-beta asset and more like a lagging risk asset.
Why Bitcoin Has Lagged Stocks
The surge in AI-related stocks has been one factor drawing investment toward traditional equities. Strong demand for AI companies has attracted capital that might otherwise have flowed into alternative risk assets such as cryptocurrencies.
Bitcoin’s broader market cycle has also weighed on demand. BTC reached a peak above $126,000 last October before entering a prolonged bearish phase.
The current downturn has kept buying interest relatively subdued, with the four-year Bitcoin cycle expected by some market observers to reach a potential bottom around October.
