Bitcoin Shines Amid Wall Street Losses

Bitcoin decoupled from traditional markets in May, rising more than $3,000.

The cryptocurrency, currently at $8,300 on Bitstamp, is set to end higher for the fourth straight month with 60 percent gains.

Notably, the leading cryptocurrency by market value has put on a good show despite the losses on Wall Street.

The S&P 500 index - a benchmark for global equity markets - is on track to end May with a 6 percent loss.

Gold is reporting a 1 percent monthly gain and the US 10-year treasury yield is down 13 percent or 43 basis points.

The gains in the traditional safe havens appear lackluster when compared to bitcoin's 60 percent rise.

BTC is up 127 percent on a year-to-date basis.

The S&P 500 and other major risk assets are also reporting year-to-date gains.

BTC's reputation as digital gold will be solidified if it continues to post solid gains during bouts of risk aversion, if any, in the coming months.

Bitcoin & bull image via Shutterstock; Graph data via Trading View.