Bitcoin's price is in a tug-of-war over the $56,000 mark, despite US equities hitting new record highs. The crypto market continues to diverge from risk assets like the S&P 500 and Nasdaq Composite Index, which achieved new all-time highs. Trading firm QCP Capital noted that while equities and gold have been bouncing higher, crypto prices have gone the other way. Market participants are now focusing on upcoming macroeconomic reports and testimony by Jerome Powell, chair of the U.S. Federal Reserve. Some hope that the U.S. spot Bitcoin exchange-traded funds (ETFs) might provide the buyer interest needed to reclaim higher levels.