Tech rally sends Nasdaq, S&P to records as Bitcoin nears $75K

U.S. equity benchmarks closed at record highs Wednesday as gains in technology stocks pushed the Nasdaq Composite to 24,016.02 and the S&P 500 to 7,022.95. The Nasdaq rose 1.59% for the day, with tech shares up about 2.08%, while the S&P 500 gained 0.8%. Bitcoin touched $75,229, up roughly 1.1% over 24 hours and nearly 10% over the past two weeks.

Markets reacted after White House comments and remarks from President Donald Trump indicating the U.S.-Iran conflict may be winding down. President Trump said Wednesday the war was ‘very close to being over,’ adding that a lasting resolution depends on whether a deal can be reached and warning that an immediate U.S. withdrawal would leave rebuilding to take about 20 years.

Fundstrat chief investment officer Tom Lee said there is room for further gains, noting many investors remain on the sidelines pending clearer geopolitical signals. Lee posted on social media that ‘stocks bottom on bad news, not good news,’ and expects the next leg of the rally to include crypto assets such as Bitcoin and Ether as well as major technology and software names.

Crypto-market indicators showed strengthening beyond Bitcoin. Ether futures OI rose about 26% in recent sessions, and traders cited reduced geopolitical fears and solid earnings in parts of the technology sector as factors supporting risk-on trading.

Some analysts cautioned that the market rally could be tested if diplomatic progress stalls or new conflict-related developments occur. For now, higher weightings in large-cap tech and renewed interest in digital assets coincided with benchmarks reaching record levels and bitcoin moving into the mid-$70,000 range.

Investors continued to monitor developments in the Middle East and corporate earnings for signals that could affect flows across equities and digital assets.