#Bitcoin Intermarket analysis

As you can see in this chart, there is a very interesting relationship between the US100/US500 ratio and Bitcoin.

Before discussing the possible outcomes of this chart, let's gain a better perspective on this intermarket relationship chart. On one hand, we have the US100, which is a technology index divided by the US500, representing the largest US companies. On the other hand, we have Bitcoin represented by the orange line chart.

Observing these two charts together, we notice that they move together most of the time, if not all the time, with occasional instances where one leads and the other follows.

Currently, we can observe that the US100/US500 ratio is on the verge of creating a new low for the first time since the beginning of 2023. If this occurs, I believe it could signal the end of the significant bullish run of Bitcoin.

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