Bitcoin Lags as S&P 500 and Nasdaq Break Records
Bitcoin is stuck around $85,000, while AI stocks push Wall Street to records. Investors are now mainly watching rate expectations and the Fed meeting at the end of October.
Key Takeaways
- Bitcoin fell to around $85,000 on Tuesday, while the S&P 500 and Nasdaq 100 set new records.
- The coin has mostly traded between $84,000 and $87,000 for the past two weeks and is still far below its peak of nearly $126,200 in October 2025.
- According to 21Shares, a close above $88,000 could change the trend; a drop to $81,000 could open the way to $71,300.
Bitcoin lagged behind the U.S. stock rally on Tuesday and slipped back to around $85,000 (€75,400), while the S&P 500 and the Nasdaq 100 set new records. The biggest crypto has mostly traded between $84,000 (€74,500) and $87,000 (€77,200) for the past two weeks, leaving it still well below its October 2025 peak, when the price briefly touched nearly $126,200 (€112,000).
Stocks Benefit From AI
The move on Wall Street was driven mainly by AI stocks. AMD rose 2.8% after CEO Lisa Su outlined strong chip demand, while Amazon gained 1.9%. That helped the broad U.S. market reach new all-time highs, even though rates remain elevated.
The 10-year yield fell to around 5.26% after hitting 5.33% on Monday. Oil also helped: Brent dropped below $100 (€89) per barrel after some tankers passed through the Strait of Hormuz and inflation worries eased a bit.
Why Bitcoin Is Falling Behind
Bitcoin does not have earnings reports or an AI story to lean on. That means the coin benefited less from the same risk appetite that pushed stocks higher. According to 21Shares, a monthly close above $88,000 (€78,100) would confirm a clear trend change. A drop to $81,000 (€71,900) could instead open the door to $71,300 (€63,300), according to the asset manager.
Bitcoin was trading around $85,531 (€75,900) on October 6, down 0.48% from the previous close. That put the coin back near the middle of the range it has been stuck in over the past few weeks. The recent climb also remains fragile: the strong rebound of the past few months fits, according to Binance Research, a pattern that in earlier cycles often tested lower levels again.
What This Means for Investors
For European crypto followers, this mainly shows that Bitcoin does not always move with the broader risk rally on Wall Street. The price still reacts strongly to rate expectations and macro data, while stocks sometimes benefit faster from sector stories like AI. The Fed meets on October 27 and 28, after the rate hike in September, and that makes the coming weeks especially important for the direction of the crypto market.
