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BTC Bitcoin holds steady at the US$86,000 mark, and U.S. stocks S & P 500 and Nasdaq both hit record highs.
On Tuesday, Bitcoin (BTC) prices stabilized at around US$86,000. This trend echoed the strong upward trend of the U.S. stock market, with major stock indexes setting new records in history.
The S & P 500 and Nasdaq hit all-time highs
According to order book data, Bitcoin is trying to break through the key resistance level of US$87,000, but continues to face selling pressure near this level. At the same time, U.S. stocks continued their rally, with the S & P 500 rising 0.8% to close at 7,835.
The Nasdaq 100 Index and the broader Nasdaq Composite Index also reached new peaks, reaching 31,312 points and 27,683 points respectively. Kobeissi Letter evaluated this round of gains and pointed out that since March 30, the S & P 500 index has risen 24%, corresponding to an increase in market value of US$71.3 trillion.
Mosaic Asset Company pointed out in a recent analysis that a shift in market expectations for the Federal Reserve may be the driving force behind price increases. The company believes that if the pace of interest rate hikes slows in the fourth quarter of 2026, it will provide a solid foundation for a continued bull market.
Mosaic Asset Company emphasized that a shift in views around the Fed's policy and the slowing pace of interest rate hikes could serve as a catalyst for a lasting rebound. At the same time, the company also pointed out that market breadth remains weak, with only 25% of stocks trading above its 50-day moving average last week.
Although technology companies have contributed heavily to the latest rally, Mosaic pointed out that the breadth of market participation remains at its lowest level in six months. The last time the market experienced such a severe oversold situation was in late March, when the S & P 500 briefly approached correction territory. Mosaic noted that previous oversold conditions triggered a significant reversal, which could repeat itself.
Bitcoin faces resistance, correlation with stock markets rises
Even as traditional markets continue to surge, Bitcoin is still limited by heavy selling liquidity from $86,500 to $87,000, as CoinGlass's analysis shows. This layer of pending orders continues to serve as a ceiling for recent price actions.
TradingView's market data shows that the 21-day simple moving average (SMA) at $83,500 now serves as instant support for Bitcoin, a level that only appeared on September 18. Keith Alan, co-founder of crypto analytics firm Material Indicators, noted in his recent overview of Platform X that traders are paying close attention to this technical threshold and the support structure near $82,500.
Alan focused on several key price levels: "I focused on prices near $83,555, the test structure for the $82,500 support, and whether buyers can clear the $87,375 failure threshold set by monthly signals."
CryptoQuant, an online data analysis platform, reported that there is a moderate positive correlation between Bitcoin and the S & P 500 index. As of October 2, the correlation coefficient reached 0.51, the highest value since early June.
Market Monitoring and New Trading Strategies
As traders pay close attention to key resistance and support levels, fast-changing conditions remain a core feature of the cryptocurrency market. A single policy change by the Federal Reserve or the sudden listing of a new altcoin could quickly disrupt price movements. To this end, investors are increasingly looking to privacy-focused tools such as CryptoApps to manage all matters in one place. These solutions integrate real-time charts, currency-specific news, macroeconomic data and smart price alerts, allowing users to simplify their strategies without having to create multiple accounts or switch between platforms.
