S&P 500 has added crypto’s $2 trillion market cap this month. Bitcoin is not impressed. Here’s why
The S&P 500 just added roughly the entire crypto market’s value this month. Bitcoin has barely moved, and the reasons go beyond the obvious.
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Summary
- The S&P 500 has gained 3.12% this month, adding roughly $2.1 trillion in market cap – close to the entire crypto market’s total value.
- Bitcoin is up just 2% over the same stretch, trading around $64,600, a level it already touched back in July.
- Analysts point to a mix of reasons: an AI-concentrated stock rally, Bitcoin-specific headwinds like the Coldcard hack, and traders sitting out ahead of an expected October cycle bottom.
