Bitcoin-to-Nasdaq Ratio Reclaims 200-Day Moving Average After 235 Sessions

Bitcoin priced in tech stocks reclaimed its 200-day moving average on September 18, ending a 235-session streak below the level. Historically, such a reclaim has been followed by gains one year later five out of six times, with a median return of roughly 84%. This cycle's reset to 62% was the shallowest on record, distinguishing it from the 2021 fake-out. Sean Hagan identifies an invalidation level between $76,000 and $77,000 and a $100,000 price target.