New Bitcoin macro analysis found its "addressable market" surpassed the $38 trillion gold market cap, driven by geopolitical instability and financial sanctions.

Bitcoin paused its rally toward new range highs while the S&P 500 came within an inch of a fresh year-to-date high, leading analysts to warn that traders are overconfident.

Bitcoin rallied to levels not seen since early February after US PPI inflation fell well below market expectations.