Bitcoin rebounds to $80,000 alongside US equities reaching new highs despite elevated inflation data.
Bitcoin climbed back to $80,000 on Thursday as the S&P 500 set another all-time closing high, reflecting broad risk-on sentiment. The move followed a sharp recovery from inflation-driven losses earlier in the week, with traders eyeing $85,000 as the next resistance level for BTC/USD.
US stocks shrugged off higher-than-expected inflation prints, which had initially weighed on markets. The S&P 500 closed at a record for the second consecutive session, while the Dow Jones Industrial Average revisited 50,000 points, a level last seen in early February. Oil prices also tested $100, further signaling robust risk appetite.
Leveraged ETF assets under management in the US reached a record $177 billion, up $45 billion since the March market low, according to market analysis. The surge underscores growing investor confidence despite concerns over potential central bank policy tightening.