Bitcoins price analysis anticipates a reencounter with the alltime high of 2021 in comparison to the SP 500

Bitcoin (BTC) is set to regain its prominence as its price catches up with the performance of US equities, according to a new analysis. In a recent blog post, Caleb Franzen, the creator of financial research resource Cubic Analytics, suggested that a major breakout in BTC price is on the horizon. Franzen compared the price of BTC/USD to the Invesco S&P 500 Equal Weight ETF (RSP) and noted that Bitcoin has failed to reach new all-time highs compared to the equal-weight S&P 500. Based on this observation, he proposed that traders short RSP and go long on BTC. Franzen further supported his optimism by using the Williams%R Oscillator, which indicates further upside potential for BTC/USD. He pointed out that similar bottom signals in the past led to significant gains for BTC/USD. With Bitcoin currently trading at its highest prices since July 2024 and stocks at all-time highs, investors are gaining confidence in the potential for continued upside.