由于石油、收益率和美元压力，比特币与标准普尔 500 指数脱钩

Bitcoin’s hold above $80,000 is turning into a live test of whether BTC can trade on its own macro signal while U.S. stocks weaken. After months of Bitcoin following the US stock market open in terms of direction, volatility, and stress, it appears to be decoupling from the AI-fed S&P 500 . Bitcoin breakout amid S&P 500 decline on May 4 The contradiction showed up as the usual pressure points moved against equities. Oil jumped after the latest flare-up in the Iran war. Treasury yields moved higher. The dollar firmed. U.S. stocks fell from record levels. Yet Bitcoin stayed near the $80,000 area instead of following SPY lower in the same way it had during earlier oil spikes. Why this matters Bitcoin usually struggles when oil, yields, and the dollar rise together because those moves tighten financial conditions and pressure risk assets. Holding near $80,000 during that mix suggests BTC may be drawing support from a different buyer base, a different trading session, or a different macro fear than U.S. equities. Related Reading Bitcoin is surging when oil goes up but only when the US stock market is closed Bitcoin rose with crude oil while US equities were closed, then reversed as the S&P 500 fell, leaving flows, oil, and Fed risk in conflict. Apr 29, 2026 · Liam 'Akiba' Wright The data points to a more complicated market than a clean refuge from stress. BTC may now be trading at the intersection of AI-led risk appetite, ETF-linked brokerage demand, and a geopolitical oil shock that is pushing bond markets back into focus. The next morning made the setup harder to reduce to a single bullish story. Oil eased, U.S. futures edged higher, and the cross-asset split appeared to flip direction. Bitcoin vs macro assets May 5 If Bitcoin can rise while SPY falls, then soften while equities firm, the story may be less about one correlation breaking and more about Bitcoin responding to a different lead market at different times of day. A split between oil shock and risk appetite Th