S&P 500 Closes Below 6000 As Stocks Retreat, Bitcoin Touches $90K

Today the bullish rally stalled for stock markets and most major cryptocurrencies, however, Bitcoin pushed higher, just to touch $90,000. The Trump Trade continues, with the USD making further gains today until late in the US session, however, indices and cryptos took a pause ahead of tomorrow’s US CPI inflation report.

Bitcoin has reached another significant milestone, crossing the $90,000 mark for the first time. After peaking at $90,020, it has since pulled back slightly and is currently trading at $88,210. On Sunday, Bitcoin made its first move above the $80,000 level and yesterday, it surged another $10,000. This rapid advance underscores the strong bullish momentum driving Bitcoin’s recent price action.

Today saw no new highs across the main US market indices, with all finishing lower. While recent months have seen record levels across stocks, gold, and cryptocurrency, gold has now been in decline, falling to $2,600 today. These losses reflect a day of overall weakness across both US and European markets, with the S&P 500 closing below the 6,000 point level. We also heard that Amazon’s Jeff Bezos sold US$1.25 billion worth of shares today.

Closing Levels for Main US Indices

• Dow Jones Industrial Average: Down 382.15 points (-0.86%) at 43,910.98
• S&P 500: Down 17.36 points (-0.29%) at 5,983.99
• NASDAQ: Down 17.36 points (-0.09%) at 19,281.40
• Russell 2000 (Small-cap Index): Down 43.13 points (-1.77%) at 2,391.84

European indices also faced notable drops, with France’s CAC down 2.69% and Germany’s DAX declining by 2.13%, marking the DAX’s biggest fall since August and the CAC’s largest since July 2023. Most sectors and major exchanges were down, with mining stocks leading losses at close to 4%. However, technology stocks in London managed a slight gain, edging up by 0.04% as trading closed.

European Bourses Closing Levels:

• German DAX: Down 2.13%
• France’s CAC 40: Down 2.69%
• UK FTSE 100: Down 1.22%
• Spain’s IBEX: Down 1.85%
• Italy’s FTSE MIB: Down 2.15%

Bitcoin Live Chart