Wall Street Goes All-In on Stocks, So Why Not Bitcoin? | Market Editor's Pick

Wall Street’s heavy tilt toward stocks has left Bitcoin acting differently, despite crypto often trading like a high-beta technology asset. NYDIG said Bitcoin’s slump reflects pressures specific to crypto rather than a broader fading of risk appetite. Equity investors have pushed stock funds to a record 64.7% of EPFR Global’s $72.9 trillion fund universe, yet Bitcoin stayed out of the rally. The report notes that Bitcoin declined 32.9% year-to-date and 13.4% in Q2, while the Nasdaq 100 gained 27.7% and tech equities rose 43.5%. NYDIG attributes the gap to supply: an authorized roughly $1.25 billion in Bitcoin sales by the largest treasury holder and spot Bitcoin ETF outflows of $4.9 billion over the quarter, with trades near $63,871 in mid-July.