Has Bitcoin Fallen Into Irrelevance as S&P 500 Hits New ATHs ??Bitcoin / TetherUSBINANCE:BTCUSDTTopgOptionsIf you haven`t sold the Double Top on Bitcoin: Now it’s May 1, 2026 — and the picture couldn’t be clearer, or more frustrating for crypto holders. The S&P 500 just closed at 7,165 — another fresh all-time high. Nasdaq and Russell 2000 are following. Wall Street is in full party mode, driven by: AI infrastructure boom Rock-solid earnings Aggressive buybacks Bitcoin? Stuck between $76,000 – $77,750, still 38% below its October 2025 ATH of $126K. This is now the longest decoupling from equities since 2020. Bitcoin isn’t just lagging anymore. It genuinely looks… irrelevant. Why this bearish divergence is happening 1. Risk appetite has shifted to traditional assets Institutional capital is pouring into the “Magnificent 7” (Nvidia & co.) on the AI mega-narrative. Bitcoin is still treated as a high-beta speculative asset — but without the same liquidity it once had. A recent Deutsche Bank survey of 3,400 U.S. consumers highlights the sentiment: Majority expect Bitcoin to finish 2026 lower than today Only 3% expect a new ATH 2. Crypto is still bleeding from the October 2025 trauma Flash crash Record liquidations Persistent ETF outflows Negative Realized Cap for months BTC’s 180-day volatility is at historic lows. Traditional markets recovered fast. Crypto is still stuck in the mud. 3. The correlation has broken — and not in Bitcoin’s favor Bitcoin now behaves more like gold: Near-zero correlation with S&P 500 But here’s the problem: When stocks dip → BTC follows When stocks rally → BTC doesn’t That’s the worst possible combination. My clear (and bearish) opinion: Right now, Bitcoin has fallen into irrelevance. This is not a healthy consolidation — it’s a structural warning sign.