U.S. Market Rally Sparks Talk of Bitcoin Hitting New All-Time High
Surging stock futures and a dovish Fed fuel optimism in crypto markets
U.S. Stock Futures Hit New Records, Stir Bitcoin Momentum
Stock futures in the United States surged to record highs Thursday, prompting renewed speculation that Bitcoin could soon breach its all-time high. The S&P 500 futures rose to 6,145, topping February’s peak, while Nasdaq Composite futures touched 20,180.
This marks a 23% rebound for the S&P 500 since its April 8 slump, as investor confidence improves on easing trade tensions and a tentative ceasefire between Israel and Iran.
S&P 500 performance over the past month. Source: Google Finance
Futures contracts for major indexes like the S&P 500 offer insight into investor sentiment and are often seen as pre-market indicators of how stocks might open.
The upbeat equity performance has crypto investors wondering whether Bitcoin (BTC) will follow suit. BTC has struggled to break through resistance at $108,000, but optimism is growing.
Nick Ruck, director at LVRG Research, told Cointelegraph,
“US stock futures nearing all-time highs, fueled by geopolitical easing and Fed rate-cut expectations, are bolstering investor risk appetite… Bitcoin’s recent rebound increased speculation of a new record high.”
He said if the Federal Reserve cuts rates in the coming months, it could help BTC surge beyond $109,000 into a fresh price discovery phase.
Traders Watch for Fed Signals and Middle East Stability
According to BTSE’s Jeff Mei, the combination of Middle East de-escalation and favorable macro conditions could push Bitcoin above its previous record of ~$112,000.
Echoing this sentiment, Arthur Hayes, BitMEX founder, wrote on X:
“Bitcoin all-time highs are coming,” pointing to stablecoin legislation and reduced geopolitical risk.
Still, Bitcoin has failed to clear $108,000 resistance multiple times this week, falling back to around $107,400 after each attempt.
Markus Thielen of 10x Research noted a “dovish shift” among Fed leaders, but warned that Bitcoin’s advance is being dampened by traders writing covered calls, which limits upside volatility.
BTC struggles at $108,000 resistance. Source:
All eyes now turn to the Personal Consumption Expenditures (PCE) report, the Fed’s preferred inflation gauge, due Friday. This data release could inject fresh volatility into both stock and crypto markets.
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