Crypto
Home›Crypto›Market Structure›Bitcoin swings from a 68-point lag to a 5-point lead o…
Bitcoin swings from a 68-point lag to a 5-point lead over 60 days
Ethereum and Solana have shown similar reversals versus the Nasdaq, with both posting double digit gains over the past two months after steep one year declines.
Bitcoin has gone from trailing the Nasdaq 100 by 68 percentage points over the past year to posting a five point lead over the last 60 days, according to CryptoSlate citing Glassnode cross asset return data.
The outlet reports Bitcoin dropped 44% over the prior 12 months while the Nasdaq 100 rose 24%, then flipped direction as Bitcoin gained 2% over the last 60 days while the Nasdaq 100 fell 3%, a 73 point swing in relative performance.
CryptoSlate says Ethereum and Solana show the same reversal pattern but more sharply, with both down more than Bitcoin over the past year, 56% and 58% respectively, yet up 12% and 10% over the last 60 days, putting Ethereum 15 points above the Nasdaq and Solana 13 points above it.
The story adds that NYDIG research tied weaker crypto trading demand to a broader set of speculative alternatives, while CryptoSlate notes BlackRock's digital assets head Robert Mitchnick pointed to July's pullback in AI stocks as the period when Bitcoin outperformed, describing the widening decoupling from equities as a constructive sign for Bitcoin's diversification role.
Latest closeBitcoin $68,345.20 ▲5.7%|Ethereum $2,088.94 ▲9.0%|Solana $82.14 ▲6.6%