The U.S. stock index is close to a new all-time high amid tariff-driven uncertainty, leading analyst Kaleo to believe that Bitcoin could follow and outperform.
Kaleo highlighted a potential repeat of history, suggesting a scenario where as equities break out, Bitcoin could do the same and exceed performance.
A chart comparison between BTC and the S&P 500 from 2019 to 2025 shows a pattern where Bitcoin's breakout in 2020 coincided with the S&P 500's recovery post-COVID crash, indicating a potential similar setup now.
If the correlation continues, Bitcoin's next significant uptrend might be triggered by a confirmed breakout in equities, as observed in the previous cycle.
This analysis contributes to the narrative that macro market recovery and risk-on sentiment are essential factors for driving renewed momentum in the crypto market.