Bitcoin's Rally Tests Whether It Can Match Wall Street's Bullish Mood

September's major concerns have been resolved, according to Wall Street strategists. Risk appetite returned, sending Bitcoin (BTC) up more than 6% to approximately $86,600.

Anastasia Amoroso, chief investment strategist at Partners Group, told CNBC's Closing Bell that anxieties about oil, artificial intelligence (AI) safety, and higher rates have subsided. This has cleared the way for stocks to climb further by year-end.

Fed and BOJ Rate Increases Did Not Rattle Markets

Both the Federal Reserve and the Bank of Japan (BOJ) raised interest rates this month. That move initially unsettled investors who were bracing for tighter policy.

According to Carson Group's chief market strategist Ryan Detrick, the Fed's tone turned out to be more dovish than expected. This has helped extend a stretch in which the S&P 500 has gone 37 days without a 1% decline.

This steadiness mirrors a resilience pattern that strategists have flagged recently. In that view, investor caution has served as fuel rather than a warning sign.

Fairlead Strategies founder Katie Stockton said mega-cap technology and semiconductor stocks are again leading the advance. She called that rotation necessary for the broader uptrend to hold.

Can Bitcoin's Rally Keep Pace with Rising Stocks?

This optimism raises a pointed question for crypto investors. If equities keep climbing into the fourth quarter, will Bitcoin ride the same wave? Or will capital rotate back toward traditional assets?

Historical data gives a mixed answer. Bitcoin has previously sat out stock rallies entirely, breaking from its usual role as a high-beta tech proxy.

For now, Bitcoin's price action over the past day tells a different story. Traders appear to read a more dovish Fed as bullish for both markets at once. That interpretation treats it as a tailwind, not a reason to move away from crypto.

Whether that alignment holds may depend on earnings and Fed commentary in the coming weeks. It will also hinge on whether the Bitcoin rally can keep pace with equities into the fourth quarter.