Bitcoin seals best monthly gain in a year as S&P 500 hits fresh all-time high

Bitcoin (BTC) closed April with its strongest monthly performance in a year, finishing above $76,000, as the S&P 500 stole the spotlight by reaching a new all-time high above 7,200 points. The dual milestone came amid a broader risk-on rally that appeared to shrug off rising US inflation pressures.

Bitcoin’s April rally and market context

Data from TradingView shows BTC/USD gained nearly 12% in April, marking the highest monthly return since April 2025. The gains came as the S&P 500 surged past 7,220 points intraday before closing slightly lower, driven by stronger-than-expected earnings from technology giants Google and Apple. The S&P 500 has added over $8 trillion in market capitalization since late March lows, according to trading resource The Kobeissi Letter.

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Charlie Bilello, chief market strategist at wealth manager Creative Planning, highlighted the index’s long-term trajectory on X, noting it stood at 5,600 a year ago, 4,200 five years ago, and 2,100 a decade ago.

Inflation data ignored by markets

Despite the bullish sentiment, the March Personal Consumption Expenditures (PCE) price index — the Federal Reserve’s preferred inflation gauge — rose to 3.5%, its highest level since August 2023, according to the US Bureau of Economic Analysis. The reading matched market estimates but signaled persistent price pressures.

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Kobeissi commented on the inflation data, noting that in the first month of the Iran War, US inflation hit a three-year high, adding that April’s figures will be closely watched.

Bitcoin’s technical struggle

While Bitcoin’s monthly candle was undeniably positive, it fell short of reclaiming key technical support levels, including the 21-week exponential moving average (EMA). Trader and analyst Rekt Capital warned on X that the pullback resembles an EMA rejection, especially if BTC cannot weekly close above the EMA by the end of this week. He added that a retest of the mid-$60,000 zone on weekly time frames may be technically necessary for full breakout confirmation.

Data from CoinGlass confirms that Bitcoin’s 11.9% monthly gain is the highest in a year, but the failure to hold above critical moving averages leaves the market in a mixed technical position.

Conclusion

April 2026 delivered a strong month for Bitcoin and a historic one for the S&P 500, with both assets advancing despite rising inflation. However, Bitcoin’s inability to reclaim key technical levels suggests caution remains warranted. The coming weeks will test whether the rally can sustain momentum or if a deeper correction is needed to confirm a breakout.

FAQs

Q1: What was Bitcoin’s monthly gain in April 2026?
Bitcoin gained approximately 11.9% in April 2026, closing above $76,000 — its best monthly performance in a year.

Q2: Why did the S&P 500 hit a new all-time high?
The S&P 500 reached above 7,220 points driven by stronger-than-expected earnings from major tech companies like Google and Apple, adding over $8 trillion in market cap since late March.

Q3: How did inflation data affect the markets?
The March PCE inflation reading came in at 3.5%, the highest since August 2023, but markets largely ignored the data as risk appetite remained strong.

Written by

Jackson Miller

Jackson Miller is a senior cryptocurrency journalist and market analyst with over eight years of experience covering digital assets, blockchain technology, and decentralized finance. Before joining CoinPulseHQ as lead writer, Jackson worked as a financial technology correspondent for several business publications where he developed deep expertise in derivatives markets, on-chain analytics, and institutional crypto adoption. At CoinPulseHQ, Jackson covers Bitcoin price movements, Ethereum ecosystem developments, and emerging Layer-2 protocols.