PANews reported on June 2nd that, according to Cointelegraph, Bitcoin fell to a near two-month low on Tuesday, as the divergence between cryptocurrencies and traditional stock markets continued to deepen. Bitcoin briefly fell to $70,023 on Coinbase, its lowest level since April 7th, a daily drop of over 4% and a weekly drop of 8%, representing a 44% decline from its October peak of $126,000. Meanwhile, the S&P 500 hit a record high above 7,600 points on Monday, and the Nasdaq Composite Index peaked above 27,000 points.

Andri Fauzan Adziima, research director at Bitrue Research Institute, stated that Bitcoin is currently the only major asset in a downtrend, a divergence that warrants attention, indicating that Bitcoin is more like a high-beta risk asset linked to macroeconomic sentiment than an independent hedging tool. Santiment noted that the gap between traditional stocks and crypto is now undeniable, leading investors to increasingly favor stocks over Bitcoin and altcoins, with capital often rotating from crypto to equities. However, Santiment pointed out that this pattern won't last forever; when mainstream influencers discuss stock dominance, it usually indicates that market sentiment is overly biased towards stocks, and market movements often contradict the expectations of most traders.