Can Bitcoin and Ethereum prices follow the S&P 500 rally amidst Trump’s influence on the stock market?

April 25, 2026

extremely well this year, breaking records and soaring above 7,000 points for the first time in history. This impressive rally has not only captivated investors but has also led to a surge in the prices of major crypto stocks like Coinbase (COIN), Circle (CRCL), and Strategy (MSTR). Surprisingly, despite ongoing geopolitical tensions, particularly concerning the US-Iran conflict, the markets have remained unfazed by these uncertainties.
When analyzing the impact of different presidents on the stock market, it becomes apparent that President Donald Trump has facilitated the best returns for the US stock market since 2001. According to CNN, the stock market has experienced a significant 16% gain since the beginning of Trump’s second term, surpassing the average 15% return seen since 2001.
However, the correlation between the surging S&P 500 index and the relatively stagnant prices of Bitcoin and Ethereum raises questions about the future movements of these cryptocurrencies. While the US stock market rally has failed to spark a similar uptrend in the crypto market, the performance of crypto stocks has outpaced that of Bitcoin, which still struggles to break through key resistance levels.
For Bitcoin, surpassing the $80,000 mark is crucial to keeping pace with the S&P 500 rally. The digital asset faces a significant roadblock at the 150-day Simple Moving Average (SMA) at $79,000, with further resistance at the 200-day SMA at $85,446. Despite a 16% increase in Bitcoin price this month alone, there remains room for growth, with technical analysis suggesting a potential push towards $82,000 if critical resistance levels are breached.
On the other hand, Ethereum has been displaying a more bullish outlook, maintaining an upward trajectory within an ascending channel over the past two months. While the recent pullback in Bitcoin and the broader market may test Ethereum’s midline support, a breakout above the upper trendline could signal the beginning of a strong uptrend for ETH. However, caution is warranted as indicators like the Awesome Oscillator (AO) bars, which currently appear red, hint at weakening bullish momentum.
Despite their current underperformance relative to the S&P 500 index, both Bitcoin and Ethereum have the potential to reclaim their previous all-time highs as bullish momentum continues to build and critical resistance levels are breached. Monitoring key technical indicators and market trends will be essential for investors to gauge the future price action of these leading cryptocurrencies.