When the S&P 500 hits new all-time highs, capital flows in almost automatically through systematic channels—pension funds rebalancing, 401(k) contributions, and passive ETF buying programs create relentless bid pressure. Corporate buybacks add another layer. But Bitcoin? It lacks those structural forced buyers. Without mandatory allocation mechanisms, without institutional mandate-driven inflows, BTC price discovery depends entirely on voluntary demand. That's a fundamental difference in how these two asset classes accumulate capital and build momentum.