Analysts say that US stock futures have reached record levels as US markets near their peak. This could propel Bitcoin towards another high.
S&P 500 futures entered new all-time high territory on Thursday with the index tapping The peak of February was surpassed by 6,145 points. Nasdaq futures, which are heavily tech-focused, also reached their peak around this time at 20,180.
The S&P 500 has gained 23% since its April 8 crash as trade tariff shocks ease The ceasefire that Israel has reached with Iran seems to have held.
Stock futures are derivative contracts where traders agree to buy or sell a specific stock index, such as the S&P 500, at a set price at a future expiration date. These contracts trade before and overnight to provide signals and insight on what stocks will open for the day after.
As investors digested fresh reasons for believing that the Federal Reserve might cut interest rates Yahoo Finance has been able to provide financial information as early as July. reported.
Bitcoin will follow Stock Market Gains
The analysts have taken a stand on Bitcoin.BTCFollowing stocks to an all-time record high.
“US stock futures nearing all-time highs, fueled by geopolitical easing and Fed rate-cut expectations, are bolstering investor risk appetite as Bitcoin’s recent rebound increased speculation of a new record high in the near future,” Nick Ruck told Cointelegraph that he is director at LVRG Research.
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He also added that institutional inflows and sustained equity momentum are important. “could propel BTC past its $109,000 resistance into a new price discovery phase” The Fed will cut rates if it happens “in the coming months.”
Bitcoin is ripe to reach new heights
Jeff Mei is the Chief Operations Officer at BTSE Crypto Exchange. He told Cointelegraph “conditions are ripe for Bitcoin to surpass its previous all-time high of about $112,000, especially given that the Iran-Israel conflict seems to be over for the time being.”
Arthur Hayes is the founder of BitMEX posted Bitcoin reaches new highs on Thursday, according to X “are coming,” The US stablecoin regulation was passed and tensions have been reduced in the Middle East.
Bitcoins cool from resistance
Bitcoin, which was trading above $108,000 on Thursday at its latest attempt, has now fallen to $107 400.
Markus Thielen is the head of research at 10x Research and told Cointelegraph, “notable dovish shift is emerging” The Fed remains in charge, but market conditions remain constrained.
“Many traders have written covered calls against their BTC holdings, which is suppressing both price momentum and volatility.”
BTC is struggling against $108,000 of resistance. Source: TradingView
On Friday, the Fed will publish its preferred inflation indicator, known as the Personal Consumption Expenditures report (PCE), which may cause more volatility in markets.
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Source: cointelegraph.com
