Bitcoin holds key support for $85K breakout as S&P 500 hits new all-time high
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- Bitcoin rebounded to $80,000 at Thursday’s Wall Street open after inflation‑driven losses.
- S&P 500 posted its highest daily close on record, while the Dow Jones hit 50,000 points for the first time since early February.
- The Kobeissi Letter reported record US leveraged‑ETF assets of $177 billion, up $45 billion since March.
- WTI crude retested the $100‑per‑barrel level.
- Bitcoin holds a pivotal technical support at the 200‑period SMA/EMA and 50‑week EMA, with traders targeting a breakout to $84k‑$85k.
Why it matters: Retail crypto traders benefit from Bitcoin’s $80k bounce, while leveraged‑ETF managers capture a $45 billion inflow; a successful $84k‑$85k breakout would amplify risk‑on trading across equities and commodities.
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