Bitcoin Lags 40% Below ATH as S&P 500 Sets New Record – The 'Decoupling' Debate Heats Up While the S&P 500 soars to a new all-time high above 6,000, Bitcoin remains stuck 40% below its peak of $120,000, reigniting the debate over crypto's role as a risk asset vs. a macro hedge. Bitcoin is underperforming traditional equities for the first time in years. Whether this is a buying opportunity or a structural shift depends on regulatory and macro catalysts. Watch $75,000 – reclaiming it could narrow the gap. #Bitcoin #SP500 #CryptoMarkets #Macro #CryptoNews #crypto #defi #web3 #BTC