S&P 500 and Nasdaq Futures Set New Records
US stock futures surged to all-time highs on Thursday, signaling renewed investor confidence and potentially setting the stage for Bitcoin to break past its current resistance levels.
The S&P 500 futures hit a new record at 6,145 points, surpassing February’s peak, while Nasdaq Composite futures reached 20,180. This bullish momentum follows a 23% recovery in the S&P 500 since April 8, driven by easing trade tensions and a ceasefire between Israel and Iran.
Fed Rate Cut Expectations Fuel Market Optimism
Investor sentiment was further boosted by growing expectations that the Federal Reserve may begin cutting interest rates as early as July. According to Yahoo Finance, the market is responding positively to signs of a more dovish Fed stance.
Stock futures, often used as early indicators of market direction, trade before traditional market hours and reflect investor outlook on key indices like the S&P 500 and Nasdaq.
Bitcoin Poised for Breakout as Equities Rally
Analysts are closely watching Bitcoin, with many suggesting the crypto market could follow the stock market’s upward trend. BTC is currently trading at $107,400 after failing to break above $108,000 three times this week.
“US stock futures nearing all-time highs, fueled by geopolitical easing and Fed rate-cut expectations, are bolstering investor risk appetite,” said Nick Ruck, director at LVRG Research. “Sustained equity momentum and institutional inflows could propel BTC past its $109,000 resistance into a new price discovery phase.”
Market Conditions Favor Bitcoin Upside
Jeff Mei, COO at crypto exchange BTSE, noted that “conditions are ripe for Bitcoin to surpass its previous all-time high of around $112,000,” citing reduced geopolitical tensions and increased market confidence.
BitMEX founder Arthur Hayes echoed that sentiment, posting on X that new Bitcoin highs are “coming,” supported by stablecoin regulation progress in the US and easing conflict in the Middle East.
Traders Still Cautious Amid Resistance
Despite bullish sentiment, Bitcoin remains under pressure. According to 10x Research’s Markus Thielen, many traders have written covered calls, limiting BTC’s upward momentum and volatility.
“The market remains constrained,” he said, though he acknowledged “a notable dovish shift is emerging among Fed leadership.”
Eyes on the Fed’s Inflation Data
All eyes now turn to the upcoming release of the Fed’s preferred inflation metric—the Personal Consumption Expenditures (PCE) report—due Friday. This key indicator could influence both equity and crypto markets by shaping expectations for monetary policy moves in the coming weeks.
