Bitcoin continues to trade near $86,000 as US stock markets reach new record highs. On Tuesday, the S&P 500 climbed to 7,835 points, the Nasdaq 100 reached 31,312 points, and the Nasdaq Composite Index hit 27,683 points. According to The Kobeissi Letter, the S&P 500 has gained 24 percent, or $71.3 trillion, in value since March 30.
Analysts from Mosaic Asset Company suggest that reduced expectations for Federal Reserve interest-rate hikes in Q4 2026 could support further market growth. Currently, only 25 percent of stocks are trading above their 50-day simple moving average. Data from CryptoQuant indicates a positive correlation of 0.51 between Bitcoin and the S&P 500 as of October 2.
Bitcoin faces price resistance near $87,000 due to ask liquidity on exchange order books. Keith Alan of Material Indicators notes that support is currently established at the 21-day simple moving average of $83,500. Traders are monitoring whether buyers can surpass the $87,375 threshold, while the asset continues to struggle with overhead liquidity.
