Bitcoin's four-month slump deepens as stock markets defy the downturn

Bitcoin's price has fallen sharply, dropping below $70,000 for the first time since late 2024. The decline marks its longest losing streak in six years, with four straight months of losses. Meanwhile, major stock indices like the S&P 500 and Euro Stoxx 50 have continued to climb steadily.

On Thursday, Bitcoin's value plunged to around $63,000, a drop of roughly 13 percent in a single day. Against the Swiss franc, its price fell from about 56,000 francs to under 50,000 francs. This extended Bitcoin's decline to four consecutive months—the worst run since 2018.

Global stock markets, however, have shown resilience. The S&P 500 recently traded near 6,873 points, up 3.29 percent over three months and 11.90 percent over the past year. The Dow Jones approached 50,000, while the Euro Stoxx 50 hovered between 6,059 and 6,103 points, rising from 5,925 a month ago and 5,542 three months earlier. Year-to-date gains for the Euro Stoxx 50 ranged from 3.40 to 4.62 percent.

Despite Bitcoin's struggles, analysts have found no direct link between its crash and broader stock market movements. One observer noted similarities between Bitcoin's corrections and tech stock trends, but no clear evidence ties the two.

Bitcoin's prolonged slump contrasts with the steady gains in traditional stock markets. Investors now face a sharper divide between digital assets and equities. The cryptocurrency's next moves remain uncertain as losses deepen.