Bitcoin is underperforming compared to the Russell 2000, which, along with the Dow and S&P 500, has reached new record highs. Currently, Bitcoin is trading 27% below its October peak. Open interest analysis presents mixed signals for Bitcoin's future movements. The recent Federal Reserve decision to cut interest rates by 25 basis points and initiate a $40 billion Treasury bill purchase program has influenced market dynamics, with small-cap stocks showing heightened sensitivity to these rate changes, potentially impacting Bitcoin's support and resistance levels.