  We study the dynamics of the superconducting order parameter in the
high-$T_c$ cuprate Bi$_2$Sr$_2$CaCu$_2$O$_{8-\delta}$ by employing a novel
time-resolved pump-probe Raman experiment. We find two different coupling
mechanisms that contribute equally to the pair breaking peak. One coupling sets
in very fast at 2ps and relaxes slow, while the other one is delayed and sets
in roughly at 5ps and relaxes fast. A model that couples holes through phonons
is able to reproduce one part of the condensate dynamics, thus, we argue that
hole-spin interactions are of importance as well.
