Although Bitcoin (BTC) has gained 21% since it retested the sub-$50,000 level on Aug. 5, its price has struggled to maintain above $62,000. Meanwhile, the S&P 500 index has fully recovered and is now trading just 1% below its all-time high set on July 16. Bitcoin faces several conflicting trends which include derivatives metrics reflecting low buyer interest and macroeconomic indicators suggesting that traders are increasingly shifting away from cash positions. Interestingly, these stock market gains have coincided with a notable decline in US Treasury yields, which signals robust demand for t…