Bitcoin: Erases Three Months S&P 500 Underperformance

Bitcoin erased three months of underperformance against the S&P 500 in the last 72 hours, according to Glassnode data released August 21 2026. Historical patterns show BTC underperforms the benchmark on two out of three days yet delivers outsized excess returns during catch-up phases, though those gains have degraded over the past year.

Price action at $76901.58 sits inside Bollinger Bands with upper resistance at $77670.45 while RSI(14) at 94.1 flashes overbought; a retracement toward EMA50 support at $67100.4 looks probable before continuation, supported by the MACD golden cross at 3014.62 and price holding above the EMA200 at $64874.69.