Bitcoin (CRYPTO: BTC) continues to underperform tech stocks, even as ever more bottoming signs lift market sentiment.
Bitcoin Misses Risk Rally
In an X post on Aug. 7, Glassnode data highlighted that global risk assets including U.S. equity indices, European stocks, gold, have moved sharply while Bitcoin has largely stood still.
Bitcoin remained slightly below where it traded a week earlier and lagged the S&P 500 by more than four percentage points.
The divergence stands out because Bitcoin has historically been viewed as a high-beta risk asset. This time, improving sentiment across traditional markets has failed to produce a comparable crypto rally.
