Bitcoin made another run at $75,000 on Wednesday, but the move lost momentum again near a level that has repeatedly blocked advances in recent months. CoinDesk data showed bitcoin trading at $75,134, up 1.45% over the past 24 hours, extending the market’s recent improvement without delivering a decisive breakout.
U.S. equities kept moving higher. The Nasdaq rose 1.6% for its 11th straight daily gain, closing above 24,000 at a fresh record. The S&P 500 added 0.8% and also reached a new high above 7,000. While stocks have fully recovered and moved into record territory, bitcoin is still trying to make up ground after its sharp slide to $60,000 in February.
$75,000 remains a ceiling for now
Recent attempts to reclaim $80,000 have been quickly pushed back, and Wednesday’s price action followed the same pattern. Bitcoin briefly traded above $75,000, but the market again failed to turn that move into a sustained advance. The repeated rejection has kept traders focused on the broader two-month range rather than on a confirmed breakout.
That contrast with equities has become more visible. Stock indexes have continued to print new highs even as bitcoin’s rebound from the February lows has remained relatively modest. Price has improved, but conviction still looks limited.
Traders focus on $72,000 support
Jasper de Maere, a trader at Wintermute, said the market had been rejected from the upper end of its two-month range since the previous day. He added that the flow picture, which appeared encouraging earlier, was already being questioned.
For the near term, he identified $72,000 as the key level to watch. Holding above that area would keep the breakout case alive and leave room for more attempts at the top of the range. A move below it, in his view, could send bitcoin back into consolidation with volatility continuing to compress.
Crypto-linked stocks rise with risk appetite
Crypto-related equities also moved up alongside the broader risk-on session. Coinbase (COIN) gained 6.2%, Robinhood (HOOD) climbed more than 10%, and bitcoin treasury firm Strategy (MSTR) rose 4.4%. The session showed that risk appetite remained firm, even if bitcoin itself has not matched the pace of the latest equity rally.