On Tuesday, September 6, the S&P 500 and Nasdaq 100 indices reached all-time highs. In contrast, Bitcoin's price remained in the $85,000 range, where it has stayed for the past two weeks. Currently, the cryptocurrency is trading approximately 32% below its October 2025 peak of $126,200.
The stock market rally was driven by the AI sector, with AMD shares rising 2.8% following reports of strong chip demand, and Amazon shares gaining 1.9%. Meanwhile, the 10-year Treasury yield declined to 5.26% after reaching 5.33% on Monday. Brent crude oil prices also fell below $100 per barrel.
Analysts from 21Shares suggest that a monthly close above $88,000 would indicate a trend reversal for Bitcoin. Conversely, a decline to $81,000 could lead to a further drop toward $71,300. Market participants are now awaiting the Federal Reserve meeting scheduled for October 27 and 28.
Historically, Bitcoin often moves in correlation with risk-on assets like stocks, but it has decoupled during this rally. Analysts note that while stocks benefit from earnings reports and AI-driven growth, Bitcoin lacks similar fundamental drivers to support its price in the current high-yield environment.
