Perhaps BTC is now preparing for another phase transition, from the 'stock phase' (meaning performance in terms of volume and correlation is closer to that of the US stock market) to the 'gold phase' (meaning performance in terms of volume and correlation is closer to that of gold).

One of the signs of a phase transition is the initial ratio line breaking through that invisible ceiling, breaking through the resistance level of 20 points, breaking through the resistance range of an implied premium rate of 450-500 times, and completely entering a new level.

Assuming this phase transition only causes the implied premium rate to double. Simple math can show that the implied premium rate at the top of the bull market should reach around 1000 times, which means the price ratio of Bitcoin to Apple will be 10 points.

Currently, Apple's stock price is about 190 USD. The BTC price corresponding to 10 points is 190/10*10000 = 190,000 USD.

This seesaw can also work the other way around. For the current BTC price of about 90,000 USD, the Apple stock price corresponding to 10 points would be about 90,000*10/10000 = 90 USD.