Bitcoin Hits Record High Against Nasdaq, Surges Past BitDAQ Ratio of 5

Bitcoin has reached a new all-time high relative to the Nasdaq-100 index, according to analyst Charlie Morris. The Bitcoin-to-Nasdaq futures ratio (BitDAQ) has surpassed 5, meaning one Bitcoin is now worth over five times the value of a single Nasdaq futures contract. Morris notes this is a psychologically significant threshold, highlighting Bitcoin’s dominance over traditional tech stocks.

While Bitcoin has historically shown strong correlation with tech equities, it’s recently diverged by acting as a safe haven asset. Despite market volatility, the leading cryptocurrency has surged to $103,000—its highest level in four months. Meanwhile, the Nasdaq-100 is down 4.3% year-to-date, still recovering from a sharp April downturn caused by U.S.-China trade tensions.

However, optimism returned to traditional markets this week as rumors of renewed U.S.-China negotiations and the announcement of a new U.S.-UK trade deal boosted investor sentiment. Major U.S. indices rebounded, but Bitcoin's momentum was even more pronounced, fueled by massive inflows into BlackRock’s groundbreaking spot Bitcoin ETF.

The influx of institutional capital has driven Bitcoin back into six-digit territory, positioning it just below its all-time price peak. With over 344,000 new wallets created in a single day and growing FOMO (fear of missing out), on-chain data signals renewed retail and institutional interest.

StoneX’s Matt Weller summarized the situation best: “If at any point in the last 15 years, you were debating whether to buy and hold Bitcoin or the Nasdaq, you would have been better off in Bitcoin.”

As Bitcoin decouples from traditional tech and asserts itself as a macro asset, its latest BitDAQ milestone may be a sign of even greater dominance ahead.