Bitcoin aims for $85,000 as S&P 500 hits record
Bitcoin (BTC) reached the $80,000 level on Thursday as the New York Stock Exchange opened. Meanwhile, U.S. stock market indices hit new historical highs, while oil prices hover around $100. According to TradingView data, Bitcoin has recovered from the decline caused by recent inflation figures. This is reported by Cointelegraph.com reports .
The U.S. stock market recovered quickly despite inflation data. The S&P 500 index recorded its highest daily closing in history and continues to grow. The Dow Jones Industrial Average has reclaimed the 50,000-point mark for the first time since early February.
The analytical resource The Kobeissi Letter notes a sharp increase in risk appetite among investors. According to the report, assets under management in U.S. leveraged ETFs have reached a record $177 billion. Since the March lows, $45 billion has been added to these funds.
Analysts view the growth of the global money supply as a key driver for crypto assets and risky assets. In the U.S., the M2 money supply increased by $1 trillion, or 4.6%, compared to last year, reaching a record $22.7 trillion. This situation supports market liquidity despite concerns about central banks' tight monetary policies.
