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.
What to know:
- Bitcoin has turned more positive but remains capped below $75,000, with repeated failures to break out from its two-month range.
- U.S. stocks, meanwhile, notched record highs with the Nasdaq logging an 11-day winning streak and the S&P 500 also setting a new peak.
- Crypto-related equities rallied alongside the broader risk-on mood, while traders say bitcoin must hold above $72,000 to sustain a breakout or risk slipping back into a low-volatility consolidation range.
Bitcoin made another push to break above $75,000 on Wednesday, but the move stalled once again at a threshold that has repeatedly capped gains in recent months.
Trading recently around $75,134, bitcoin was higher by 1.45% over the past 24 hours, according to CoinDesk data.
Crypto-linked stocks moved higher alongside the broader risk-on tone. Coinbase (COIN) rose 6.2%, Robinhood (HOOD) jumped more than 10%, and bitcoin treasury firm Strategy (MSTR) gained 4.4%.
