The S&P 500 sits 2.5% from a record high after recovering from a historic crash, while Bitcoin lags behind.
Even after a major stock market collapse last week, the S&P 500 has bounced back strongly and stands just 2.5% shy of a record peak.
Bitcoin has tracked equity markets through 2026, influenced by comparable macroeconomic forces. Yet the downturn in crypto has barely shifted so far.
This is unbelievable.
ā Bull Theory (@BullTheoryio) November 11, 2026
The S&P 500 is now up 3.65% this week and just 2.5% away from a new ALL TIME HIGH.
This is happening despite a hotter than expected CPI print, and just one week after one of the biggest wipeouts in S&P 500 history. pic.twitter.com/ZqGsdWVEpu
Wall Street was hit hard by an AI-related selloff last week. The Nasdaq Composite dropped 5.5% on November 5, and the S&P 500 recorded one of its largest ever declines.
Stocks have now reclaimed much of those losses.
The recovery continued even after inflation figures came in hot. October's CPI increased 0.4% month on month, exceeding the 0.3% forecast. Core prices also rose 0.3% for the third month in a row.
Traders now assign an 87% probability to a Federal Reserve rate hike in December. Falling oil prices, however, helped ease some inflationary concerns.
A number of investors appear to have bought the dip in artificial intelligence and semiconductor stocks.
Bitcoin has lagged behind: BTC is trading around $74,400, roughly 40% below its all-time high. Spot Bitcoin ETFs saw outflows of nearly $1.3 billion in early November. NVIDIA's troubles have also weighed on technology stocks, keeping crypto market participants cautious.
BTC has recently acted as a high-beta proxy for risk sentiment. So a fresh record in the S&P 500 could draw buyers back into the market.
Under that scenario, Bitcoin might first aim for its 50-day moving average near $82,000. Renewed inflows into ETFs would bolster that rebound.
#Bitcoin holds above the 200-Day MA.
ā MichaĆ«l van de Poppe (@CryptoMichNL) November 11, 2026
That's great news.
It's not confirmed, yet.
I'd much want to see a clear breakthrough above the following levels and then I'm turning an absolute incredible bull.
ā $75,000
ā $77,200
ā 21-MA
If that all happens, we're going to $100,000. pic.twitter.com/koIRsia16a
Concerns over rate hikes continue to dominate. Higher borrowing costs usually hurt non-yielding assets such as Bitcoin more than profitable firms. A stronger US dollar, driven by elevated rates, could also put pressure on cryptocurrency prices.
In that situation, Bitcoin might test its 200-day moving average, just above $73,000. A clear drop below that threshold would endanger the longer-term uptrend.
For the moment, the gap between equities and crypto remains wide. The Fed's December decision will likely determine which outcome materializes.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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