Source: CryptoNewsNet
Original Title: From Lockstep to Lag, Bitcoin Poised to Catch Up With Small Cap Highs
Original Link:
For the first time in five years, the Russell 2000 Index (IWM) is hitting record highs while bitcoin, which usually tops in tandem, is out of sync and remains 27% below October’s record. History suggests the largest cryptocurrency and cryptocurrencies more broadly are likely to catch up.
The Russell 2000, a gauge of U.S. small-cap equities, printed a record on Thursday, as did measures for bigger companies like the Dow Jones Industrial Average (DJIA) and the S&P 500 Index. The Nasdaq 100 is just below its all-time high and metals, led by silver, are also hitting peaks.
Since 2020, new highs in the Russell 2000 have typically coincided with new highs in bitcoin. This alignment was evident in November 2021, when bitcoin peaked at $69,000. It appeared again in early November 2024, when bitcoin moved above $90,000, and again in mid October when it surged to $126,000. Both bottomed on Nov. 21.
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From Lockstep to Lag, Bitcoin Poised to Catch Up With Small Cap Highs
Source: CryptoNewsNet Original Title: From Lockstep to Lag, Bitcoin Poised to Catch Up With Small Cap Highs Original Link: For the first time in five years, the Russell 2000 Index (IWM) is hitting record highs while bitcoin, which usually tops in tandem, is out of sync and remains 27% below October’s record. History suggests the largest cryptocurrency and cryptocurrencies more broadly are likely to catch up.
The Russell 2000, a gauge of U.S. small-cap equities, printed a record on Thursday, as did measures for bigger companies like the Dow Jones Industrial Average (DJIA) and the S&P 500 Index. The Nasdaq 100 is just below its all-time high and metals, led by silver, are also hitting peaks.
Since 2020, new highs in the Russell 2000 have typically coincided with new highs in bitcoin. This alignment was evident in November 2021, when bitcoin peaked at $69,000. It appeared again in early November 2024, when bitcoin moved above $90,000, and again in mid October when it surged to $126,000. Both bottomed on Nov. 21.