Bitcoin Caps at $75,000 While Nasdaq and S&P 500 Reach Record Highs
Key Takeaways
- Bitcoin remains capped around $75,000, failing to break out from a two-month range.
- Nasdaq and S&P 500 reach fresh record highs.
- Markets disregarded Middle East tensions, underpinning the ongoing stock rally.
Bitcoin Stalls
Bitcoin capped at $75,000 as Nasdaq and S&P 500 fly to new record highs.
“Bitcoin capped at $75,000 as Nasdaq and S&P 500 fly to new record highs The Nasdaq was higher for the 11th consecutive session as investors looked past the conflict in the Middle East”
Bitcoin has turned more positive but remains capped below $75,000.
U.S. stocks notched record highs with the Nasdaq logging an 11-day winning streak.
Crypto-related equities rallied alongside the broader risk-on mood.
Trading recently around $75,134, bitcoin was higher by 1.45% over the past 24 hours.
Coinbase rose 6.2%, Robinhood jumped more than 10%, and bitcoin treasury firm Strategy gained 4.4%.
Technical Resistance
Trader Jasper de Maere said they've rejected from the top end of this two-month range.
Analyst Antoine Andreani identified a critical resistance zone around $76,000.
If the price breaks through, a possible acceleration toward $93,000 to $108,000 could occur.
A failure could bring the cryptocurrency back to $50,000.
Andreani emphasized the importance of Fibonacci retracements.
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