A crypto analytics firm believes that Bitcoin (BTC) is gearing up for a fresh upside burst as it begins to outperform the stock market.
In a new thread on the social media platform X, Swissblock says that Bitcoin is now “playing in its own league” after BTC held its ground amid a severe stock market sell-off this month.
According to Swissblock, Bitcoin looks to be playing the part of a safe-haven asset in the midst of market uncertainty stemming from President Trump’s trade war.
“Bitcoin’s decoupling from equities is confirmed:
Even if sentiment around the trade war shifts, Bitcoin won’t be heavily affected.
In fact – like gold – it could strengthen.
Upside pressure is brewing.”
Bitcoin is up over 15% this month while the S&P 500 is down about 1.42%.
Swissblock also says that the Bitcoin Risk Index is flashing bullish for BTC. The metric aims to evaluate Bitcoin’s current risk environment by aggregating various data points, including on-chain valuation and cost-basis metrics.
According to the analytics firm, the metric suggests that Bitcoin’s selling pressure is fading while upside potential is heating up.
“Beware bears!
Risk-Off Signal at 0 for days: clear evidence that downside pressure is vanishing.
We’re in bullish stabilization – pullbacks are now launchpads for more upside.”
Last week, Swissblock said that BTC needs to break its immediate resistance at around $95,000 to trigger new rallies. But the firm also said that BTC may first witness a retracement toward the $89,000 zone to gather bullish momentum before sparking a fresh leg up.
At time of writing, Bitcoin is trading for $94,826.
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