The worst chart for bitcoin bulls right now
For 14 years, one ratio only moved in bitcoin’s favor. Now it has decisively turned the other way and bulls may not like what it means.
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Summary
- The S&P 500 and Nasdaq, priced in bitcoin, just broke above their 200-week moving averages for the first time since 2012, a level that’s capped every prior stock rally against BTC.
- The shift raises suggests that days of parabolic BTC gains may be behind us.
