Bitcoin slips as stocks hit records and gold extends rally

Bitcoin traded lower on Tuesday even as traditional risk assets rallied, underscoring a growing divergence between crypto and broader markets.

The world’s largest cryptocurrency (BTC) slipped 0.6% to $87,700, lagging gains in equities and a renewed surge in gold.

Wall Street regained momentum as upbeat corporate earnings lifted risk appetite, pushing the S&P 500 to fresh all-time highs and driving the Nasdaq 100 closer to its prior October record. The S&P 500 briefly touched 6,990 shortly after midday trading in New York, while the Nasdaq 100 rose 1.1% to 26,000, marking its fifth straight session of gains.

Gold, often viewed as a defensive alternative to both equities and crypto, outperformed both. The metal rose 1.4% to $5,080 an ounce, extending a seven-session winning streak, while silver surged 3.3% to $107.

Equity gains were led by technology and utilities, offsetting sharp losses in health care after the Centers for Medicare & Medicaid Services proposed a roughly 0.1% increase in Medicare Advantage payments for 2027—well below expectations. Health insurers sold off broadly, with UnitedHealth Group Inc. plunging nearly 20%, dragging the Dow Jones Industrial Average down 0.8%.

The Nasdaq 100 is now within reach of its 26,182 record set in late October, while the S&P 500’s rally reflects continued investor confidence in corporate earnings. General Motors jumped more than 8% after beating forecasts and issuing upbeat 2026 guidance, while HCA Healthcare surged 11%. Corning led the Russell 1000 with a 16% gain after announcing a fiber supply deal with Meta Platforms.

In commodities, WTI crude rose 1.9% to $62 a barrel, while natural gas fell 6% following last week’s weather-driven spike.

The contrasting performance highlights Bitcoin’s recent decoupling from traditional risk assets, even as equities push to record highs and gold extends its rally.

Ethereum (ETH) is currently trading just above $2,900; it’s down 1.85 for the day.