Bitcoin Closes Gap with S&P 500 as Probability of $90K Target Rises
Bitcoin's price surge has closed its three-month performance gap with the S&P 500. Over the past 72 hours, the BTC-to-S&P 500 relative-performance ratio rose from approximately 2.2x to nearly 3x.
This sharp rally came after Bitcoin's price action rallied from $62K to around $78K in just a few days. The increased interest in Bitcoin was likely driven by several factors, including the Bitcoin ETF market's $1.92 billion inflows over the past week and expectations around U.S. crypto legislation.
However, despite this positive momentum, analysts are cautioning that it may be short-lived. According to TradingView, the RSI index has entered overbought territory, suggesting a potential pullback in Bitcoin's price.
Yet, some predictions suggest that this rebound could be just the beginning of a larger uptrend. The Kobeissi Letter has reported that the probability of Bitcoin finishing 2026 above $90,000 has increased from 12% to 48% over the past three days.