TradingKey – Fresh highs in the S&P 500 and Nasdaq spark a Bitcoin breakout past key resistance.
On Thursday, September 11, Bitcoin (BTC) continued its upward rebound, approaching $114,000 and marking its highest level since August 24. U.S. equities rallied yesterday, with both the S&P 500 and Nasdaq hitting new record highs, fueling Bitcoin’s momentum.
Bitcoin Price Chart – Source: TradingView
Over the past two weeks, Bitcoin had repeatedly failed to hold above the $112,000 mark, with multiple brief breakouts quickly reversing. Now that BTC has decisively cleared this resistance, bullish sentiment is gaining traction, and the uptrend is expected to continue.
Currently, major Bitcoin-holding firms like MicroStrategy (MSTR) and Metaphanet have slowed their accumulation pace. However, smaller companies are stepping in to buy BTC, including POP Culture Group (CPOP), H100 Group, Robin Energy (RBNE), The Smarter Web Company, and Convano (6574.T). This shift suggests that Bitcoin’s rebound may be gradual rather than explosive, making a swift return to all-time highs less likely in the short term.
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