The Bitcoin-to-Nasdaq ratio reclaimed its 200-day moving average on September 18. This event followed a period of 235 consecutive sessions where the ratio remained below this threshold.
Historical data indicates that in five out of six previous instances where the ratio reclaimed this average, Bitcoin's price increased over the following year. The median gain in those cases was approximately 84%.
The current market cycle experienced a 62% reset, which is noted as the shallowest on record. Analysts highlight that the asset is currently trading above its 100-day, 150-day, and 200-day moving averages.
The analysis sets a specific invalidation level for the current trend at $76 000 to $77 000. Additionally, the report identifies $100 000 as a key target price level for Bitcoin.
