Bitcoin Breaks Out as Nasdaq Hits Records and Oil Slides on Iran Hopes
Bitcoin broke above $86,500, pushing total crypto market value past $3 trillion and reinforcing a strong risk-on mood. Market sentiment is firmly bullish, with fear-and-greed readings in “greed” territory and Bitcoin still leading altcoins, though broader crypto is joining the move. The rally matches a strong equity backdrop, especially in tech, while falling oil prices also support risk assets. Bitcoin’s chart is constructive: it cleared a key resistance zone, is near a golden cross, and has upside targets around $90,763 and $95,074 if momentum holds. A drop back below $79,673 would weaken the setup. Altcoins are rising too, including XRP, Solana, and Zcash, with most top-100 coins posting weekly gains. Traders now see meaningful odds of Bitcoin reaching $90,000 this month. The Fed’s recent rate hike and ongoing Treasury bill purchases add a complicated backdrop of tighter policy alongside continued liquidity support.
