**Bitcoin Struggles Amid Market Uncertainty**

Bitcoin's performance continues to lag, with its value relative to the S&P 500 falling short of previous highs. Bloomberg Intelligence's Mike McGlone suggests that Bitcoin might be experiencing a "hangover" from past peaks.

- **Current Status**: BTC/USD is about 11 times the value of the S&P 500, down from a peak of 15 times in early 2020.

- **Market Sentiment**: McGlone hints that the "fastest horse" in the race might be slowing down, predicting a potential drop to 7 times the S&P 500.

- **Price Action**: Bitcoin's price hovers around $60,000, with recent fluctuations causing concern among traders.

Despite the uncertainty, some see potential buying opportunities if Bitcoin hits lower lows. As always, investors should proceed with caution.