Bitcoin Holds Below $87K as S&P 500 and Nasdaq Hit Record Highs
- —BTC hovers near $86,000 with $87,000 resistance from dense sell orders
- —S&P 500 rose 0.8% to 7,835, Nasdaq 100 to 31,312, Nasdaq Composite to 27,683
- —The 21-day SMA at $83,500 serves as the nearest support for Bitcoin
- —BTC-S&P 500 correlation reached 0.51, the highest since early June
Why it matters: Rising correlation with equities makes Bitcoin increasingly sensitive to Wall Street moves and Fed rate expectations.
Source: CryptoHamster