Bitcoin Taps $66k on BTC Price Rally as Stock Divergence Hints
Bitcoin (BTC) rose to $66,000 after gains on the US stock market on Tuesday as cryptocurrencies look to halt their 2026 decline.
Main Receptors:
On Wednesday, Bitcoin rose above $66,000, recovering with US stocks.
The Bitcoin Coinbase Premium Index turned positive amid 258 million ETF inflows.
While BTC's correlation to stocks and gold has been very weak since 2022, it has shown significant reversals historically.
The price of BTC will return in the same way as US stocks
Bitcoin's recovery on Wednesday closely matched similar recoveries in the US stock market, with AI and technology stocks leading the market higher.
The technology-focused Nasdaq led the rally with daily gains of 1.05%, while the S&P 500 rose 0.68%. The Dow locked in a 421-point gain, closing the trading day up 0.86% on Tuesday.
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Crypto-related stocks saw modest gains, with crypto exchange Coinbase ( COIN ) gaining 1.12% and Strategy ( MSTR ) gaining 0.73%.
The rapid recovery of US equity markets appears to have played a role in easing negative pressure on crypto investors seeking to reduce risk exposure.
This is confirmed by the Bitcoin Coinbase Premium Index, which tracks the price difference in BTC between Coinbase and Binance, which turned positive for the first time since January 15.
That means “US buyers are moving in,” analyst Nick said in a note on Wednesday, adding that the index should remain positive to ensure continued buying pressure.
The return of interest in the US was also reflected in Bitcoin ETFs, which recorded net inflows of $258 million on Tuesday.
Bitcoin Won't Be Hacked Forever: Analysis
Bitcoin, which is often seen as a risk in the short term, has frequently moved against the stock market, particularly the S&P 500.
The past six months have seen a sustained period of disconnection. The daily correlation coefficient index between BTC price and the US benchmark index, the S&P 500 index, is currently 0.32 and -0.45 against gold.
“Since the end of August, gold is up +51%, the S&P 500 is up +7%, and Bitcoin is down -43%,” said onchain data provider Sentiment in a recent post on X.
This marks the weakest correlation between Bitcoin and stocks since the FTX chaos in late 2022.
“Historically, when an often-matched property is broken in this dramatic fashion, the bond is not broken forever,” Sentiment said.
“In the long term, this unusual separation will actually argue for significant growth for Bitcoin and altcoins.”
If bitcoin returns to historical equity tracking during an economic expansion, it “could have a lot of room to hold,” Santiment reported.
Darius Sit, founder and CIO of the trading company QCP Capital, argued that the “Bitcoin vs. Gold” argument is often wrong as a price competition when “the most important driver is liquidity and market structure”.
The divergence between stocks and BTC “reflects positional reversals and driven flows, not the failure of Bitcoin's long-term narrative,” Sith added.
“Bitcoin is still a long-term inflation and time-readable asset.”
According to Cointelegraph, adoption of Bitcoin by institutions, banks, traders, public companies and nation-states has soared by 2025, proving it to be a ripe asset class for investors.
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