Bitcoin Eyes Historic Breakout Against Nasdaq as Market Trends Shift
Bitcoin (BTC) is on the cusp of a landmark breakout relative to the Nasdaq 100 Composite, with the current BTC/Nasdaq ratio at 4.96. This means one Bitcoin is worth nearly five times the value of a single Nasdaq unit. The previous record of 5.08 was achieved in January 2025, when Bitcoin briefly hit its all-time high above $109,000.
This consistent outperformance in each market cycle—spanning 2017, 2021, and now 2025—underscores Bitcoin’s resilience and potential to lead beyond traditional tech stocks.
In the broader market, Bitcoin’s divergence from U.S. tech stocks is becoming increasingly evident. Bitcoin is down only 6% year-to-date, whereas the Nasdaq has fallen 15%. Additionally, since Donald Trump’s November 2024 election victory, Bitcoin has surged by 30%, while the Nasdaq has dropped by 12%.
When comparing Bitcoin to the “Magnificent Seven” tech stocks, Bitcoin remains about 20% below its February 2025 all-time high. While this shows strength, it also highlights that some top tech names are outperforming Bitcoin in the short term.
MicroStrategy (MSTR), a key proxy for Bitcoin exposure, has similarly shown resilience. Since joining the QQQ ETF on December 23, MSTR has only fallen 11%, whereas the ETF has lost over 16%. In 2025, MSTR is up 6% year-to-date, while the QQQ ETF has dropped 15%, further illustrating Bitcoin’s relative strength.
