Bitcoin Loses to Stocks for the First Time in 14 Years: What Is Happening?

The S&P 500 (NYSE:SPY) on Tuesday broke above its 200-week moving average against Bitcoin (CRYPTO: BTC) for the first time since 2012, ending a 14-year streak of the crypto outperforming stocks.

What The Chart Is Actually Showing The same crossover is appearing on the Nasdaq to Bitcoin ratio, the first time either has happened in the history of both assets, CoinDesk reported on Wednesday.

The ratio has moved in Bitcoin's favor since 2010, with today's reading at roughly 0.12 BTC to buy the S&P 500, down from more than 300 BTC in 2012.

Every prior instance of stocks briefly outperforming Bitcoin reversed quickly.

This time it has not.