Bitcoin has been a standout in recent weeks, with a key low in early February near $60,000 and testing the $75,000 zone. This move resembles a potential cup-and-handle pattern, similar to the previous trend from Nov. 2025 through mid-January 2026. Since then, bitcoin has bounced from a very oversold level to reach the 60s. The recovery has been encouraging, with bitcoin attempting to extend from the 50-day moving average and the prior breakout zone, but it has not yet reached overbought territory. Bitcoin is coming off its third drawdown of at least 32% over the past year and its rally from February has pushed bitcoin back above a sharply downtrending 50-Day moving average. Bitcoin vs. the S & P 500 (SPX) has also seen a bounce, pushing the relative line from oversold levels to 40.