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S&P 500 is knocking on 8,000. But can Bitcoin keep up? 👀📈
Wall Street just pushed the S&P 500 to a fresh record at 7,798.99, briefly crossing 7,800 for the first time.
The rally got another boost from softer inflation:
• PPI came in flat MoM
• YoY PPI cooled from 5.5% to 4.7%
• Energy prices dropped sharply
• Jobless claims edged higher
• Treasury yields eased as rate-hike expectations faded
Add strong earnings and AI-driven growth, and the bullish case is still alive.
But here’s where it gets interesting…
The S&P is already near 8,000, valuations are stretched, breadth is narrowing, and more of the market is relying on AI earnings to keep the momentum going.
Citi’s 8,100 year-end target is now less than 4% away.
The next big test? Jackson Hole on Aug. 27. 🎯
If the Fed sounds more dovish, risk assets could get another boost — and that could be good news for $BTC.
But if inflation surprises hotter or earnings disappoint, this crowded rally could unwind fast.
So the real question isn’t whether stocks can hit 8,000.
It’s whether Bitcoin keeps riding Wall Street’s wave… or finally starts moving on its own. 👀
$BTC $ETH $SPY #Crypto #Bitcoin #SP500 #SP500Nears8000
#DailyOrbit
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