S&P 500 Rally Fails to Spark Cryptocurrency Gains

The S&P 500 index has set a new benchmark, surpassing 7,000 points for the first time in history. This impressive performance has been attributed to President Trump's presidency, which has delivered the best returns for the US stock market since 2001.

Despite this rally, Bitcoin and Ethereum prices have not followed suit, remaining below their record highs. Analysts are looking for a potential breakout from key resistance levels that could fuel a strong bullish trend.

The 150-day SMA at $79,000 presents the closest roadblock for Bitcoin, while the 200-day SMA at $85,446 serves as the next major hurdle. A successful breakout above these levels would confirm a strong bullish trend and potentially propel Bitcoin to higher prices.