“What were we doing while the S&P500 hit a new high?”...Bitcoin, why can't it rise alone?

▲ Bitcoin (BTC)/AI generated image

While the U.S. stock market has reached an all-time high, Bitcoin (BTC) is still significantly lagging behind its previous peak, drawing significant market attention.

According to a Bitcoinist report on April 18 (local time), while the S&P500 and Nasdaq have already recovered to all-time highs, Bitcoin remains approximately 40% below its previous peak.

Ethereum is also down approximately 52%, clearly showing a difference in recovery speed between traditional financial markets and virtual asset markets. Gold and silver have also fallen by approximately 12% and 34% respectively, indicating extreme differences in performance across assets.

Currently, the assets leading the bull market are limited, and virtual assets have not yet entered a full-fledged upward trend. Although a risk-on environment appears to have been created on the surface, analysis suggests that a 'selective rally' is underway, with funds concentrating only on certain assets.

Bitcoinist pointed out that this structure could actually be an opportunity. Given that a pattern of the stock market rising first, followed by virtual assets catching up later, has been repeated in the past, it is suggested that Bitcoin may currently be in the early stages of its upward cycle.

If a pattern emerges where market funds circulate and move to lagging assets, Bitcoin could experience strong momentum in a subsequent upward phase. The current disparity is being interpreted as a preparation period for the next upward trend.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*