Key facts
- Bitcoin's ratio to the Nasdaq 100 has flipped bullish.
- The BTC/Nasdaq ratio has reclaimed its 200-day moving average.
- Historically, this signal has preceded median gains of 84% for Bitcoin.
The relationship between Bitcoin and the Nasdaq 100 index has shown a bullish signal, according to analyst Sean Hagan. The ratio of Bitcoin's price to the Nasdaq 100 has moved back above its 200-day moving average. Historically, this has been followed by significant gains for Bitcoin, with a median increase of 84%. Hagan has set a price target of $100,000 for Bitcoin.