NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

As S&P 500 Flips 3,000 Into Support, Bitcoin’s Bull Case Grows

Nick Chong
Nick Chong
1 year ago
3 mins read
bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Despite a worsening pandemic, geopolitical turmoil, and more, Bitcoin and the S&P 500 have fended off secondary declines after March’s liquidity crash.

At least for the time being, BTC holds above $9,000 and the leading stock index remains above 3,000 points. Both measures have held their respective levels for more than a month.

With the S&P 500 holding strong, Bitcoin also stands to rally.

Related Reading: An Infamous Bitcoin Whale Just Resurfaced — and He’s Got a Bone to Pick

S&P 500 Secures 3,000, Boosting Bitcoin Bull Case

In early June, the S&P 500 saw a strong rejection at what many saw as a key level: 3,200. That level was cited by many analysts on social and media and on certain mainstream media outlets as a level of importance.

Yet an analyst says that stepping back, the American equities market is seemingly still bullish.

Referencing the chart below, they wrote:

“Well that definitely surprised me. No major pullback and we have reclaimed our major resistance. This is bullish imo, not much else to say. We may pullback deeper into our (now) major support, but ultimately I think this level will hold and we will see new ATH soon.”

Image

S&P 500 analysis by Bitcoin trader "Credible" (@CredibleCrypto/Crediblestocks on Twitter). Chart from TradingView.com

The analyst’s sentiment is largely predicated on the fact that the 3,000 psychological and technical level remains intact.

Bitcoin will benefit if the S&P 500 rallies higher due to the correlation between these markets.

JP Morgan strategists observed that since March, “Cryptocurrencies have traded more like risky assets like equities—a significant change relative to the prior couple of years.”

BitMEX’s chief executive Arthur Hayes has observed a similar correlation, at least on the downside. In April, he wrote:

“Bitcoin will be owned unlevered. Could the price retest $3,000? Absolutely. As the SPX rolls over and tests 2,000 expect all asset classes to puke again.”

Not Everyone Is Convinced

Although there is this sentiment, not everyone is convinced that the S&P 500 — and Bitcoin by extension — is on solid footing.

The chief investment officer at Minneapolis-based Leuthold Group recently said the following to Bloomberg on the potential for a 20% drop:

“The bulls could be proved right in that the March 23rd low holds, but you could lose a lot of money in a drawdown here… You could still very easily have a drop of 20% from the peak we made on June 8th. Very easily.”

This is a sentiment that has been echoed by Scott Minerd, the global CIO of Guggenheim Investments. Minerd said in an interview that with stocks intrinsically overvalued while there are technical warning signs on the charts, the S&P 500 could drop off to 1,600.

With the S&P 500 and Bitcoin correlation holding strong, any collapse in the stock market may kickstart another BTC bear trend. But assuming the Federal Reserve’s commitment to “unlimited” monetary easing continues, a drop could be rapidly reversed.

Related Reading: Crypto Tidbits: Bitcoin At $9k, Grayscale Ethereum Trust, Cryptocurrency & PayPal
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt, spx 
Charts from TradingView.com
As S&P 500 Flips 3,000 Into Support, Bitcoin Could Benefit: Analyst
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Price Recovery Faces Test

Ethereum Price Recovery Faces Test – Will Resistance Stop the Rally?

Ethereum price started a fresh recovery wave above the $4,350 zone. ETH is now facing hurdles near $4,500 and might...

Aayush Jindal 1 hour ago

Ethereum Eyes $5,500 Amid Illiquid Supply Crunch And ETF Momentum

Following a rejection at $4,946 on August 24, Ethereum (ETH) is now trading in the low $4,000 level. However, some...

Ash Tiwari 1 hour ago
maxi-doge-emo-2025-1000x-meme-coin-tw

9月狗狗幣再掀話題 Maxi Doge崛起挑戰迷因幣1000倍幣王座

加密貨幣市場在2025年9月再次將焦點拉回至狗狗幣(DOGE)。作為最早將表情文化與區塊鏈技術結合的迷因幣代表,狗狗幣多年來以其獨特的社群文化、名人效應與價格波動性在市場中反覆掀起風潮。當前市場的技術...

Mark Mak 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP Price Recovery Fails

XRP Price Recovery Fails – Is It Doomed for Another Collapse?

Aayush Jindal 18 minutes ago
ONDO

ONDO Price Skyrockets As Over 100 Tokenized Assets And ETFs Are Set For Ethereum Debut

Ronaldo Marquez 26 minutes ago
token6900-goes-live-today-100x-meme-coin-hype-begins

SPX6900「兄弟盤」TOKEN6900登場 今日下午2點正式上線 能否掀起百倍迷因幣風潮?

Ada Chui 38 minutes ago

Premium Sponsors

Press Releases

  • Zo 750 $ na 1 500 000 $: v roku 2021 Shiba Inu, v roku 2023 Pepe Coin – ktorý „penny“ token bude ďalší?

    Zo 750 $ na 1 500 000 $: v roku 2021 Shiba Inu, v roku 2023...

    7 hours ago
  • イーサリアム...

    7 hours ago
  • ビットコイン...

    7 hours ago
  • 750 dollárból 1 500 000 dollár: 2021-ben Shiba Inu...

    7 hours ago
  • Zamjena 750 USD u 1.500.000 USD: u 2021. to je bio Shiba Inu, u 2023. Pepe Coin, koji je sljedeći token s potencijalom?

    Zamjena 750 USD u 1.500.000 USD: u 2021. to je bio Shiba...

    7 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.