Bitcoin Just Flipped a Months-Long S&P 500 Trend: Here’s What Changed
The major cryptocurrency skilled its most notable value restoration of the yr, skyrocketing by 25% from below $65,000 to nearly $80,000 inside two days earlier than its run was paused, at the least for now.
Although this surge is spectacular by itself, Glassnode highlighted one other notable improvement that makes it much more attention-grabbing: BTC has immediately began to considerably outperform US shares after months of doing the other.
In reality, BTC solely outperformed the S&P500 on round one third of buying and selling days over the past 3 months.
This is the longest underperformance streak we’ve seen over the past 6 years of historical past. The query now’s whether or not that is the beginning of a development or simply a type of 3 days.… pic.twitter.com/FznjobnysM
— glassnode (@glassnode) August 17, 2026
Finally on the Correct Side
The analytics firm stated that the cryptocurrency had underperformed the S&P 500 on roughly two out of each three buying and selling days prior to now three months. This was greater than evident, as BTC did not provoke any substantial rallies because it was rejected at $83,000 in May. In the meantime, the favored index charted consecutive all-time highs.
Glassnode described this as bitcoin’s longest streak of relative underperformance towards the benchmark US index in six years. However, the development began exhibiting cracks even earlier than BTC exploded on Wednesday afternoon.
On Monday, the index slipped by over 0.5% whereas bitcoin posted a notable 2% enhance. It was one of many uncommon classes over the last a number of months when the cryptocurrency moved decisively in the other way.
The main run on Wednesday, although, confirmed the altering tides. The S&P 500 and Nasdaq snapped a three-week profitable streak, posting losses of 1-2%.
Although BTC has underperformed US equities on most days, it has dwarfed the inventory market throughout its higher days, because the magnitude of its extra returns has been significantly bigger. The newest deviation is a prime instance.
Decoupling?
It can be untimely to conclude that there’s a decisive decoupling, as BTC has repeatedly traded as a high-beta threat asset, particularly during times when interest-rate expectations, liquidity, or broader threat sentiment dominate all monetary markets.
Nevertheless, the cryptocurrency lastly moved in the appropriate path and in a very spectacular method. Gaining over 25% weekly and reaching a three-month peak whereas US equities marked their first dropping week in a month converse loudly and clearly.
Of course, crucial query now’s whether or not this divergence lasts as one spectacular buying and selling session, even when it went on for a couple of days, just isn’t sufficient to persuade traders to return to the crypto markets. Not but, at the least.
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