BTC Bitcoin vs US Tech 100 & Gold: 87.9
Bitcoin, the US Tech 100 (Nasdaq-100) and gold on one chart. When bitcoin and tech move together, the same money and the same interest-rate expectations are driving both and bitcoin is trading as a risk asset. When they split, something bitcoin-specific is happening. Click any name in the legend to hide that line.
Three assets on one chart. Two green/orange lines are RATIOS rebased to 100 on their first day — bitcoin measured in units of the Nasdaq-100, and in ounces of gold. Above 100 means bitcoin has beaten that asset since the start of the window; below means it has lost to it. The grey and yellow lines are the raw index level and the gold price for context, and the log line behind them is bitcoin in dollars.
A rising ratio means bitcoin is winning the race, even on days everything falls. This is the number a dollar price alone hides: both can climb at once while bitcoin quietly loses ground to tech. Ratios flat together across a drawdown usually means the whole risk complex is moving, not bitcoin specifically.
Gold here is the PAX Gold token, not the London fix — a close proxy, not the same instrument — and its history starts 2020-08-28, so there is no gold line before that and none is invented. The Nasdaq-100 is a stock index that does not trade weekends; carried-forward values are flat by construction, not by market calm. Rebasing to 100 makes the comparison readable but means the level depends on the window you are looking at.
Nasdaq-100 from FRED (public domain) · gold from Binance PAXG · BTC close from our own node · 1 point/day