Bitcoin-to-Nasdaq Ratio Turns Bullish After 235 Sessions

The Bitcoin-to-Nasdaq ratio reclaimed its 200-day moving average on September 18 after 235 consecutive sessions below it, marking a significant bullish signal. Historically, Bitcoin has shown a median gain of approximately 84% one year after similar reclaim events, occurring five out of six times. This cycle's 62% reset is noted as the shallowest on record. Key insights include the current beta falling to 0.75, indicating that the leveraged drawdown has already occurred. The analysis also highlights that Bitcoin is currently above the 100, 150, and 200-day averages, with the Puell multiple confirming this trend. The invalidation level is set between 76000 and 77000, with a critical resistance line at 100000.

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