History Repeats? Bitcoin Could Rally as S&P 500 Nears ATH
According to analyst CryptoKaleo, Bitcoin's last parabolic rally didn’t begin until after the S&P 500 fully recovered from the COVID-19 crash and broke into new all-time highs.
With the U.S. stock index now on the verge of another breakout—this time following tariff-driven uncertainty—Kaleo believes Bitcoin could soon follow suit and significantly outperform.
In a post on X, the analyst emphasized that history may repeat:
“The S&P500 is once again on the verge of breaking out to new all-time highs – this time after the tariffs scare… I believe we see history repeat itself, and as equities break out – Bitcoin does the same and significantly outperforms.”
Chart Comparison Highlights 2020 Pattern
The chart shared in the post overlays BTC (blue) and the S&P 500 (orange) from 2019 to 2025. It highlights how Bitcoin’s breakout in late 2020 aligned closely with the moment the S&P 500 entered price discovery territory post-COVID crash. Kaleo suggests we may be seeing a similar setup now.
If the correlation holds, Bitcoin’s next major upward move could be triggered by a confirmed equities breakout, just as in the last cycle.
This analysis adds to a growing narrative that macro market recovery and risk-on sentiment are key precursors to renewed crypto momentum.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
