Bitcoin Approaches Record High Against Nasdaq 100 Composite Ratio
Bitcoin (BTC) is nearing a breakout against the Nasdaq 100 Composite, with a current BTC/Nasdaq ratio of 4.96. This indicates nearly five Nasdaq units are needed to equal one bitcoin's value. The previous high was 5.08 in January 2025, coinciding with bitcoin's all-time high exceeding $109,000.
- Each market cycle has seen new highs in the ratio: 2017, 2021, and now 2025.
- Year-to-date, bitcoin is down 6%; Nasdaq has declined 15%.
- Since the November 2024 election, bitcoin has increased by 30%, while Nasdaq dropped 12%.
- Bitcoin is about 20% below its February all-time high when compared to the "Magnificent Seven" tech stocks.
- MicroStrategy (MSTR), a proxy for bitcoin exposure, is down 11% since joining the QQQ ETF, which fell over 16%. In 2025, MSTR is up 6% year-to-date, contrasting with QQQ’s 15% decline.