S&P 500 Hits 7,800: Is Wall Street’s Risk-On Rally a Signal for Indian Crypto Traders?
- S&P 500 crossed a record 7,800 intraday, while Bitcoin stayed about 50% below its peak.
- Bitcoin still faces $65,500 resistance after U.S. spot ETFs post $323.3M net outflows.
- Indian crypto traders should track BTC-INR, USD/INR, and Nifty for firm risk-on signals.
The S&P 500 moved above 7,800 intraday on Aug. 13 before closing at a record 7,798.99. Bitcoin traded near $63,400 on Aug. 13, exposing a widening gap between crypto and record-setting U.S. equities. Indian crypto traders are watching whether that risk appetite spreads beyond American stocks.
S&P 500 Breaks 7,800 as Global Risk Appetite Strengthens
In an X post, analyst Ash Crypto highlighted that the S&P 500 had broken 7,800 for the first time while Bitcoin remained about 50% below its all-time high. The comparison showed the contrasting performance of U.S. equities and crypto.
The mi…
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