Bitcoin Climbs as S&P 500 Slides Ahead of Fed Minutes

Stocks took a breather on Monday as the S&P 500 closed down 0.52 percent. Investors pulled back following recent record highs, pressured by rising Treasury yields and ongoing concerns over US Iran tensions that pushed oil prices higher. Soft retail sales data for July also contributed to the cautious mood on Wall Street.

In a clear shift of momentum, Bitcoin moved in the opposite direction. The price climbed roughly 2 percent, pushing past the $64,000 mark. Traders appear to be rotating capital into digital assets while waiting to see if the upcoming Federal Reserve minutes will signal a shift in monetary policy.

Wednesday remains the focal point for the markets. The release of the Federal Reserve minutes will detail the July policy meeting, where officials held rates steady despite some internal disagreement. A document perceived as dovish could provide a lift for risk assets, while any hawkish tone suggesting further hikes would likely trigger a sharp correction for both stocks and crypto.

For now, the market is in a waiting game. Bitcoin faces technical resistance near $65,000, and market participants are keeping a close watch on upcoming retail earnings from giants like Walmart and Home Depot. Caution remains the primary strategy until the Federal Reserve offers more clarity on the path for interest rates.