The S&P 500 added $2.1 trillion in market cap this month, outpacing Bitcoin’s 2% gain amid divergent market drivers.
The S&P 500 rose 3.12% in October, adding $2.1 trillion to its market cap and pushing its total value to a record $70.5 trillion. The rally was driven by AI-related stocks, contrasting with Bitcoin’s muted performance.
Bitcoin traded near $64,600, up just 2% this month, failing to mirror the equity surge. Analysts cite sector-specific headwinds, including a recent hack and anticipation of an October cycle bottom, as key factors.
While U.S. equities entered a risk-on phase, Bitcoin’s decoupling reflects its unique market dynamics, despite historical correlations with stocks since 2020.