S&P 500 Tests 6,725 Support as Bitcoin Nears $93,000, Crypto Fear Index at 2024 Low
The S&P 500 has repeatedly tested the 6,725 support level, with Goldman Sachs warning that a break below could trigger systematic CTA selling, a BiyaPay analyst said on Nov. 17. Bitcoin declined near $93,000 as the crypto fear index dropped to its lowest level of the year. On-chain data show whales continued reducing positions while market absorption weakened, increasing BTC short-term volatility. The analyst noted the current phase combines high valuation digestion, cooling rate-cut expectations, and capital flight to safety, with key support for BTC at $80,000.