Glassnode data shows that Bitcoin wiped out three months of relative underperformance against the S&P 500 in only three days, according to a BlockBeats report published on Aug. 21. The data indicates that BTC has lagged the S&P 500 for most periods, but when Bitcoin does outperform the index, the excess returns are often substantial. The update focuses on Bitcoin’s relative performance against equities rather than giving absolute price moves or broader market commentary. No additional figures were disclosed in the brief. The report attributes the data directly to Glassnode and frames the move as a sharp reversal in relative strength over a short time window.
Bitcoin erased three months of underperformance relative to the S&P 500 in just three days, according to Glassnode data cited by BlockBeats on Aug. 21.
The data shows that BTC has underperformed the S&P 500 for most periods. But when Bitcoin does move ahead of the index, the excess returns are often significant.
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