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Bitcoin rises 3% as S&P 500 falls 1%, showing rare outperformance amid tech stock profit-taking

Market News
18 Aug 2026
Crypto Briefing
View Source
Bullish
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Bitcoin gained about 2.6%, reaching the $64,400-$64,500 range, while the S&P 500 dropped roughly 0.5% due to profit-taking in tech stocks. This marks a rare day where Bitcoin outperformed US equities, despite being down about 50% from its October 2025 peak near $126,000. The S&P 500 has continued to hit new highs in 2026, contrasting Bitcoin's prolonged correction. The session highlights Bitcoin's potential as a diversification asset, especially after shocks, but also underscores its volatility and significant drawdowns.

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