Right now both Bitcoin and global stocks are in a moderately bullish but choppy phase, with strong correlation to macro risk‑on/off sentiment and bond‑market signals (especially U.S. yields).

Current Bitcoin condition
Bitcoin is trading around $80,836 with a small intraday gain, sitting below its 2025–26 year high near $126,198 but well above its year low near $60,074.

On‑chain and derivatives data show that BTC is still acting mainly as a risk‑on asset: it tends to move with equities during sell‑offs and rallies, but not always as a pure “safe haven.”
Global stock‑market condition
Major equity indices (like the S&P 500) have stabilized above key levels after earlier volatility driven by energy shocks, inflation, and geopolitical worries.
Stocks remain sensitive to U.S. Treasury yields and Fed‑policy expectations: if the 10‑year yield breaks higher, both stocks and Bitcoin can see pressure from algorithmic and risk‑off flows.

How BTC and stocks are linked now
Over the past year the correlation between Bitcoin and the S&P 500 has been moderately positive, typically in the 0.3–0.4 range on a rolling basis, meaning they often move in the same direction but not in lockstep.

Practically for traders:
A fresh equity sell‑off often pulls BTC down as well, since both are viewed as “risk assets” when volatility spikes.
During calm or risk‑on regimes, BTC can outperform stocks on relatively low‑volume, speculative flows