Bitcoin makes up three months of lost ground against S&P 500 in 72 hours

Bitcoin is continuing its strong recovery and is rapidly closing the gap on the US stock market. According to Glassnode, Bitcoin has wiped out three months of relative underperformance against the S&P 500 in just 72 hours. The Bitcoin price now stands at around $77.659, having risen 24% in a week.

Bitcoin swiftly reverses months of weakness

Glassnode’s chart clearly shows how powerful the recent move has been. Bitcoin has underperformed the S&P 500 significantly since autumn 2025. While the US equity index is roughly 20% higher from the starting point, Bitcoin, despite its recent rally, is still about 31% lower.

The ratio between Bitcoin and the S&P 500 in particular shows how much ground the cryptocurrency lost. That ratio has fallen over recent months from nearly 5 to just above 2. The last four trading sessions, however, have brought a striking turnaround.

The ratio has jumped back to around 2.82. According to Glassnode, that wipes out roughly three months of underperformance in just a few days.

Glassnode notes that longer stretches of Bitcoin underperforming equities are not unusual. The interesting difference, according to the analytics firm, emerges when Bitcoin eventually starts outperforming. Such periods can come with relatively large price moves.

Bitcoin price approaches $80.000

That turnaround is now clearly visible in the Bitcoin price. Bitcoin is trading around $77.659, up 7.75% over the past 24 hours. Over seven days, the gain is as much as 24%.

Trading volume is also picking up sharply. Around $66.85 billion worth of Bitcoin has changed hands in 24 hours. With roughly 20 million BTC in circulation, the total market capitalisation has risen to about $1.56 trillion.

The speed of the rally is particularly striking. Earlier this week, Bitcoin was still trading in the low $60.000s, before buyers quickly took control. The price is now moving towards $80.000.

That does not mean, however, that Bitcoin is once again outperforming equities over the full period. The chart actually shows there is still a substantial gap relative to the original starting point. What has changed drastically is the momentum within a matter of days.

The coming period will show whether Bitcoin can hold on to this relative strength. After a 24% rise in seven days, attention is focused not only on further gains but also on whether the recent breakout holds once the first profit-taking appears.