Bitcoin surged by 25%, jumping from under $65,000 to nearly $80,000 in just two days, marking its strongest price recovery of the year. According to Glassnode, this rally ends a three-month period of underperformance against the S&P 500, the longest streak observed over the last six years, during which BTC only outperformed the US index on roughly one third of trading days. On Wednesday, the S&P 500 and Nasdaq snapped a three-week winning streak, posting losses of 1-2% and their first losing week in a month. While this divergence raises questions about a potential decoupling, analysts caution that one or two spectacular trading sessions are not enough to convince investors to return to crypto markets.
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