- Wall Street rally boosts hopes of a Bitcoin all-time high amid Fed rate cut optimism.
- 95.69% of BTC holders are in profit, indicating strong bullish market sentiment.
Wall Street witnessed a broad-based rally on the 26th of June, with all three major U.S. indexes climbing higher amid easing geopolitical tensions and promising economic signals.
The ongoing ceasefire between Israel and Iran, coupled with data supporting potential interest rate cuts by the U.S. Federal Reserve, helped push the S&P 500 and Nasdaq closer to their record closing highs.
U.S. stocks break records
Notably, S&P 500 Futures surged to a fresh all-time high of 6,145, eclipsing February’s previous peak, while Nasdaq Composite futures also reached a new high at 20,180.
This bullish sentiment reflected a market recovery, with the S&P 500 rebounding by 23% since its plunge on the 8th of April, as fears over trade tariffs and conflict-driven volatility began to subside.
What’s more
As expected, the recent surge in U.S. equities has fueled speculation that the Federal Reserve may initiate interest rate cuts as early as July, a move that has energized both traditional and crypto markets alike.
Echoing similar sentiments was Bill Northey, senior investment director at U.S. Bank Wealth Management, Billings, Montana, who added,
“Cle
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Author: Ishika Kumari
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