Stocks Are At All-Time Highs, Bitcoin Is Lagging: Is BTC Late To The Rally?

Stocks (S&P 500 and Nasdaq) have reached all-time highs while Bitcoin remains roughly 40% below its peak, highlighting a selective equity-led rally rather than a broad risk-on move. XWIN Research Japan argues capital typically flows from commodities and rates into equities and then later-cycle assets like Bitcoin — suggesting crypto could follow the current equity strength. On-chain metrics show declining exchange reserves and steady accumulation, and price action has recently broken above a defended range (~$72,500–$75,000). BTC is pressing the descending 100-day moving average with the 50-day turning up, indicating improving short-term momentum, though the 200-day MA keeps the macro trend uncertain. The article frames Bitcoin as “next in line” for capital flows: conditions for a larger move are being built but a clear catalyst is still needed. Market impact: a sustained hold above ~$75,000 would be a bullish structural signal and could draw downstream flows from equities into crypto; failure would likely keep BTC rangebound.