Renowned cryptocurrency analyst DonAlt has made a bold prediction: Bitcoin's future success hinges on the performance of the stock market. Specifically, he believes Bitcoin needs the support of the S&P 500 to reach new heights. Despite positive developments in the crypto market, Bitcoin has been relatively weak compared to the stock market, and its price movement may depend on the strength of the US stock index.

DonAlt's prediction is significant, as he accurately predicted the bottom of Bitcoin's price in 2022. Now, he suggests that if the S&P 500 continues to rise and Bitcoin stays above $65,500, it could reach new highs. However, if the S&P 500 falters, Bitcoin's chances of reaching new highs are slim. The analyst's analysis highlights the interconnectedness of financial markets and the potential impact of stock market movements on Bitcoin's price.

Currently, Bitcoin is trading above $66,000, and the S&P 500 is near its all-time high. Investors and traders must keep a close eye on both Bitcoin's price action and the S&P 500's performance to determine the future trajectory of the largest cryptocurrency. In conclusion, DonAlt's prediction underscores the importance of monitoring broader market trends to understand Bitcoin's potential for growth.