Bitcoin's breakout above the BTC/SPX neckline signals a major macro shift as money rotates from equities to crypto.
A multi-year inverse head and shoulders pattern positions Bitcoin for continued dominance over stocks with a target ratio of up to 30.
With bullish patterns and strong trend confirmation, Bitcoin eyes $125K–$150K by August as investors gain confidence in upside continuation.
Bitcoin is surging against the broader equities market, signaling a powerful macro shift in investor sentiment. Gert van Lagen highlights Bitcoin’s breakout against the S&P 500, revealing a bullish inverse head and shoulders pattern on the BTC/SPX ratio chart. This technical formation developed over four years and suggests a strong relative uptrend in Bitcoin. The ratio broke above the neckline near 14 and reached 18 by May 2025, confirming bullish momentum.
Multi-Year Base Drives Macro Strength
The left shoulder of the pattern formed in early 2021, while the head developed during the 2022 bear market. The right shoulder completed by mid-2024, indicating structural balance. Besides, the breakout zone flipped prior resistance into support, further strengthening the case for sustained upside. The pattern’s height suggests a potential ratio target of 22, possibly extending toward 30. This projection signals heavy money rotation from the $48 trillion equities market into Bitcoin’s $1.4 trillion space.
Each leg of the formation aligned with shifts in volume and momentum. Moreover, the neckline previously rejected price multiple times, acting as a critical decision zone. Consequently, the recent breakout signals long-term bullish intent with no visible bearish divergence. Bitcoin is now reclaiming all its underperformance since 2022 relative to stocks.
Bull Flag Ignites Short-Term Rally
Meanwhile, Peter Brandt affirms the bullish trend, projecting a top between $125,000 and $150,000 by August 2025. The daily Bitcoin analysis reveals a smooth sequence of bullish continuation patterns. Initially, a symmetrical triangle formed in April, followed by a breakout and a double top near $85,000.
After testing support at $77,041, price resumed upward momentum. A breakout above $87,000 marked a shift from consolidation to expansion. Then, a bull flag formed in early May and held its lower boundary with precision. Bitcoin exploded past $105,000 and reached $109,390 by May 21.
Additionally, the ADX indicator reads 34.18, confirming trend strength. Each breakout built on former resistance zones, now turned support. Moreover, there were no signs of trend reversal, confirming strong control by buyers.
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