Bitcoin down 3%, S&P 500 up 16%: why crypto’s biggest bull case failed?
Bitcoin’s 3% decline in 2025 while the S&P 500 soared 16% marks a historic divergence, the first time since 2014 that the world’s largest cryptocurrency has underperformed equities during a substantial market rally. This decoupling highlights a major crack in the institutional-adoption story that fueled so much crypto optimism going into 2025. Spot Bitcoin ETF [...]