The S&P 500 rose 0.70% to 7,744.72, while the Nasdaq Composite gained 0.59% to 26,585.47, bolstered by record-high healthcare shares. This recovery followed a period of volatility driven by concerns over AI infrastructure financing and debt. According to CoinGecko, Bitcoin traded at $82,601.56, marking a modest 0.8% gain over 24 hours, while Ether climbed 1.6% to $2,437.55.
In section Cryptocurrency
Bitcoin Struggles to Clear $84,200 Resistance Amid Market Recovery
Bitcoin climbed back above $83,000 on Tuesday as U.S. stock indices rallied on the back of falling oil prices. Despite the broader risk-on sentiment, the leading cryptocurrency retreated toward $82,600, failing to breach the critical $84,200 threshold required to invalidate its current local bearish structure.
Analysts remain cautious regarding the durability of this move. Trader Ardi noted that $84,200 serves as the primary barrier for a shift in momentum, a level sitting roughly 1.94% above current prices. Market data from Glassnode suggests that while aggressive selling pressure has begun to fade, it has yet to be met with a significant influx of fresh spot or ETF demand. Perpetual futures traders remain net sellers, and options markets continue to reflect a preference for downside protection, keeping the asset tethered to its recent trading range.
Comments (0)
No comments yet. Be the first!