CoinWorld News reports that the S&P 500 index hit a new high of 7,400 points, indicating that risk appetite in the crypto market is rebounding. Analysts point out that the rise of the S&P 500 is closely related to the performance of Bitcoin and major cryptocurrencies, which once again serve as high-beta extensions of U.S. stocks rather than independent hedging tools. Market observations show that the S&P 500 rose 0.12% at the open on Thursday and hovered around 7,400 points. Strategists at JPMorgan and Jefferies have long predicted this trend, considering the 7,400 to 7,600 range as a reasonable target for 2026. Although the Iran war failed to hinder corporate earnings and valuation expansion, market attention to cryptocurrencies remains high. Analysis shows that the 30-day correlation coefficient between Bitcoin and the S&P 500 has risen to 0.74, indicating a high correlation between their movements.