Bitcoin Holds $64K Support as S&P 500 Hits Record High

Bitcoin is maintaining a stable position at the $64,000 level this week. This price action follows a wave of optimism in the broader financial markets that pushed the S&P 500 to a record market capitalization of $70 trillion.

The rally in traditional stocks was sparked by reports suggesting the Strait of Hormuz could soon reopen to oil traffic. As global energy concerns ease, investor confidence has risen, creating a positive environment for both equities and digital assets.

Traders are now watching to see if Bitcoin can maintain this floor or break through the next layer of resistance. Stability in the stock market often sets a constructive tone for crypto holders, though the focus remains on whether Bitcoin can gather enough momentum to push past recent highs.