The crypto market has come under renewed pressure, with Binance Research citing capital rotation into US equities as a key driver of the heightened risk-off sentiment in Bitcoin. In an X post on Tuesday, Binance Research said the CBOE Dispersion Index has surged to 42, one of the highest levels on record. The spike signals that investor flows are increasingly concentrated in a small group of S&P 500 stocks. The firm noted that strong, concentrated equity gains can pull capital away from Bitcoin (BTC), causing a "capital black hole." "The mechanism is simple: outsized equity returns → capital concentrates → 'capital ... (full story)