Bitcoin's price reached a record high of $93,445 but has since pulled back and is now hovering around the key resistance level of $90,000. This resistance level is identified by a trendline connecting the twin peaks from 2021. CoinDesk has observed a correlation between bitcoin's price and the Nasdaq-to-S&P 500 ratio since 2017, with the ratio leading bitcoin's movements. Currently, the NDX/SPX ratio has retreated below the trendline, suggesting that bitcoin may settle below $90,000 for a while. However, if the ratio sees an upward trend again, it could signal a bullish move for bitcoin, potentially pushing prices above $100,000.



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