Bitcoin is still “rolling” as its value relative to the S&P 500 falls short of an all-time high. 📉

- Bloomberg Intelligence’s Mike McGlone says the risk-on asset rally “may be over.”

- BTC/USD is now around 11x the S&P 500, compared to a peak of 15x in Q1 2020.

- McGlone predicts BTC could fall to 7x the S&P 500.

BTC continues to hover around $60,000 ahead of Wall Street’s August 28 open. 📈

- BTC/USD hit $58,000 after a quick sell-off before stalling.

- Trader Crypto Chase says the trend will be clear once the current consolidation phase is broken.

What do you think about the future of BTC? Comment below! 💬#Bitcoin#Crypto #Finance