Why Bitcoin Is Underperforming Equities Despite Bullish Catalysts

"Despite the presence of several bullish catalysts that typically suggest a positive outlook for Bitcoin, such as increasing institutional adoption, growing interest from retail investors, and favorable regulatory developments, the cryptocurrency is still underperforming when compared to equities. This raises questions about the underlying factors contributing to its diminished performance in the market." source: https://www.coindesk.com/markets/2025/11/20/why-bitcoin-is-underperforming-equities-despite-bullish-catalysts