Stocks Surpass Bitcoin in Long-Term Chart Showdown

Bitcoin's dominance in outperforming stocks may be coming to an end. The S&P 500 hit a fresh all-time high this week, while Bitcoin remained in a drawdown. This shift is reflected in the S&P 500-to-Bitcoin ratio, which has been rising since June and recently broke above its 200-week moving average.

The ratio measures how much Bitcoin is necessary to buy one unit of the S&P 500. Historically, this ratio has always stayed below its 200-week moving average. However, in recent weeks, it has surged, indicating that stocks have pulled ahead of Bitcoin.

Bitcoin's price was up by 0.9% to around $64,500 in the past 24 hours, but is still nearly 50% below its record high of over $126,000 seen in October. Despite predictions from analysts such as Tom Lee and Michael Saylor that the 'crypto winter' is over, Bitcoin's price has struggled to break past $65,000 since June.