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CoinDesk analysis points out: The S&P 500 to Bitcoin ratio has broken above and held the 200-week moving average for the first time, possibly signaling the end of Bitcoin's era of outperforming the stock market.
CoinDesk analysis points out that the S&P 500 to Bitcoin ratio (which measures the amount of Bitcoin needed to buy the S&P 500 index), as well as the Nasdaq to Bitcoin ratio, has for the first time in Bitcoin's 14-year history broken above and held its 200-week simple moving average. This phenomenon may signify the end of Bitcoin's era of outperformance relative to stocks, potentially weakening its narrative as a "superior store of value," and contradicting previous bold bullish predictions of Bitcoin prices reaching $300,000 or higher. The analysis suggests that this reflects Bitcoin's maturation; thousand-fold gains are a phenomenon of young assets with thin liquidity, whereas trillion-dollar market cap assets are less prone to dramatic volatility.
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Source：CoinDesk · Source Link
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