Bitcoin news: S&P, Nasdaq hit records as BTC stalls at $75,000, 40% off October peak
While the S&P 500 and Nasdaq hit new record highs, Bitcoin struggled to maintain momentum above $75,000.Summary
U.S. stock markets, including the Nasdaq and S&P 500, have continued their record-breaking rally despite ongoing Middle East conflicts. The Nasdaq achieved its 11th consecutive daily gain, closing above 24,000, while the S&P 500 reached new highs above 7,000.
In contrast, Bitcoin's upward momentum has been more subdued. Although it attempted to break the $75,000 threshold on Wednesday, the price stalled at this resistance level. While crypto-linked stocks like Coinbase, Robinhood, and MicroStrategy saw gains, Bitcoin is still recovering from its significant drop to $60,000 in February.
Traders at Wintermute suggest that $72,000 is a critical support level to watch. Maintaining this level is essential for a continued breakout narrative, whereas a drop below it could lead to further consolidation and decreased volatility.
(Source：CoinDesk)