Vivek Ramaswamy points to Bitcoin as a hedge to present economic turmoil

The pattern, seen in the chart above, has broken above a neckline at the 15 mark. After a standard pullback to retest the breakout point, the ratio rebounded and could lead to a renewed upward momentum for Bitcoin. It also corresponds with Bitcoin‘s 2021 peak relative to the S&P 500, a zone that traders now view as the crypto’s support level.

Adding to the bullish signal, the monthly chart displayed a green candle following the rebound, an indication that Bitcoin bulls have successfully defended this critical zone. Analysts noted that the demand range between 13 and 15 on the BTC/SPX ratio, marked by multiple support lines, has become a battleground now tilting in Bitcoins favor.

“,” One market analyst on X commented. They backed the claim for two more reasons: Bitcoin faces no earnings compression and cannot be targeted by international tariffs.

According to market data trackers, Bitcoin is consolidating well above $80,000, as tech stocks like Apple and Meta both shed over 2% of their valuations on Fridays market close. Overall, BTC had the least negative price movement compared to all the Magnificent 7 tech stocks, closely followed by Microsoft.

At the time of this publication, it was trading around $83,000, seeking a route past $85,000 that, if breached, could push the coin towards its 30-day high of values above $90,000.