Bitcoin Holds Near $64K, While Crypto Stocks Slide – Glassnode Says BTC Is Losing Ground To The S&P 500

Crypto-linked stocks fell in pre-market trading on Tuesday, even as Bitcoin (BTC) held steady amid flaring tensions in the Middle East.

Bitcoin’s price rose 1.2% in the last 24 hours to around $64,000, a rebound after dipping below $63,000 over the weekend. The apex cryptocurrency has stayed largely range-bound over the past several sessions. On Stocktwits, retail sentiment around BTC remained in ‘bearish’ territory even as it outperformed the broader equities market.

The SPDR S&P 500 ETF (SPY) was down 0.5%, the SPDR Dow Jones Industrial Average ETF (DIA) was flat, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) dropped 1.23%. QQQ was among the top trending tickers on Stocktwits at the time of writing, with retail sentiment trending in ‘neutral’ territory over the past day.

Circle (CRCL) was the worst hit among large-cap crypto-linked equities, down more than 3% in pre-market trade, followed by Robinhood (HOOD), which fell around 2%. Digital asset treasuries like Strategy (MSTR) and Bitmine Immersion Technologies (BMNR) dropped around 1.5% alongside cryptocurrency exchanges Coinbase (COIN) and Bullish (BLSH), which fell around 2% in pre-market trade.

Can Bitcoin Outperform The S&P 500?