Bitcoin's Stock-Bashing Streak Under Threat

Bitcoin's long reign as the top-performing asset over the stock market may be coming to an end. The Bitcoin-to-S&P 500 ratio has moved decisively above its 200-week simple moving average (SMA) for the first time on record, according to an analysis.

The ratio refers to the amount of Bitcoin needed to buy the S&P 500 index. In 2010, it took 300 Bitcoin to do so, but now just 0.12 Bitcoin is enough. This shift suggests that the trend of Bitcoin outperforming stocks may be weakening.

However, recent strength in U.S. equities could disrupt this trend. Historically, there have been periods when U.S. stocks temporarily outperformed Bitcoin, and analysts are warning that a reversal could darken Bitcoin's long-term outlook.