Welcome to US Crypto News Morning Briefing. An essential summary of the most important developments in future cryptography.
Get coffee when looking at Bitcoin (BTC) performance compared to the S&P 500, a benchmark for US stock market performance. Due to the growing influence of Tradfi, Bitcoin’s control as an asset class has increased compared to traditional stocks.
Today’s Crypto News: BTC/S&P 500 Ratio Record Best in History
Matthew Sigel, head of digital assets research at Vaneck, highlighted Bitcoin’s historic outperformance against the S&P 500.
Specifically, the Bitcoin/S&P 500 ratio reached an all-time high of $17.725 on May 8th.
“The highest ever: Bitcoin/S&P 500 ratio,” writes Shigeru.
This milestone coincides with broader market trends, including the recent movement of Bitcoin temporarily surpassing Google in market capitalization metrics, as shown in recent US Crypto News publications.
For Bitcoin, a surge comes amid growing institutional influence; And then there is the resulting influx of fluidity. prompt Analyst for rethinking BTC cycle theory.
“It feels like it’s time to abandon that Bitcoin Cycle theory. It’s even more important to focus on how much new liquidity comes from institutions and ETFs.”
Traditional market adoption and general uncertainty make investors see Bitcoin as a hedge against the finance and the US Treasury risk.
$3.5 trillion inflows into US stocks, headquarter bonds and financial funds
Reports show that since 2007, the cumulative inflow of US equities, corporate bonds and the Treasury Department is $3.5 trillion. In particular, that surge of $2.5 trillion has occurred since 2020.
Kobeissi’s data points to the strong investor desire for US assets. However, the Bitcoin ratio spike suggests a parallel shift, with some investors supporting decentralized assets amid global economic uncertainty, including inflationary pressures and geopolitical tensions.
US equity funds captured $1.2 trillion inflows and saw a net outflow of $100 billion in the 2022 Bear market.
According to Sigel, this indicates a temporary risk aversion that Bitcoin seemed to be avoided as its long-term growth outweighed Nasdaq over multiple time frames.
“Bitcoin surpasses the Nasdaq for a day, week, month, day of the year, one year, two years, three years, five years and ten years,” Siegel said.
Meanwhile, the US Treasury yield rose, reaching 4.641% in early January 2025, reaching 4.641%, the first since May 2024.
The chart of the day
The highest ever BRR index/SPX ratio means that Bitcoin’s value has increased significantly over the S&P 500.
Byte-sized alpha
Here’s a summary of more US crypto news that continues today:
Raoul Pal predicts that Bitcoin’s dominance will peak, marking the start of the “banana zone.” Strategic Bitcoin Holdings won 50.1%, with a recent purchase increasing at $180 million, including 1,895 BTC. Bitcoin has skyrocketed above $100,000, causing its biggest wipeout since 2021, with a $970 million liquidation. PI Network ranks 6th among Finland’s top social apps. The PI ecosystem has been set to launch a major announcement on May 14th, with users eagerly waiting for the potential for Binance. XRP has surged 8% following Ripple’s settlement with the SEC, but rising profits for short-term holders could limit their ability to violate the $2.38 resistance. Mara Holdings showed revenue growth of 30% year-on-year, with Cleanspark’s first quarter of 2025 down 62.5% and Hut 8’s revenue down 58.1%. Cardano prices have skyrocketed by 10%, On-chain data showed that 74.14% of ADA supply is profit, indicating an increase in accumulation. SEI Labs proposes SIP-3 to migrate SEI networks to an EVM-only model, removing COSMWASM and native Cosmos support.
Overview of Crypto Equities Pre-Market
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