2025-12-25 10:20:16

S&P 500 keeps making highs because $1.5T/year flows in automatically via pensions, 401(k)s, buybacks, and passive ETFs.

Bitcoin doesn’t have forced buyers.

On top of that:
• Stocks benefit first from rate-cut expectations
• BTC lags during tight liquidity + tax-loss harvesting
• Crypto moves after liquidity actually hits the system

Same macro. Different timing

BTC1,19%

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