The US stock market has opened to a sea of green on seemingly minor news. While President Trump’s call to Vladamir Putin to end the war in Ukraine could be seen as a potential ease to global tensions, the market appears to be responding primarily to a lack of trade war advancements.
Markets love certainty and direction, with tariff volatility coming out of the US, Europe, and Canada; this Friday, traders seem optimistic that a reprieve is coming.
The DXY dropped just 0.08% moments ago, which is correlated with Bitcoin’s decline of almost 1%. However, Bitcoin has held firm over the last day, outperforming the US market.
Against a weakening US dollar, down 0.12% over the past 12 hours, Bitcoin’s relative strength is accentuated by a roughly 2% gain. It is significantly surpassing the Nasdaq, which is up 0.61% over the same timeframe.
Yet Bitcoin remains range-bound, with prices fluctuating within a channel between $79,000 and $84,000.
Tech equities broadly rallied at the market open, led by Palantir Technologies (PLTR), which gained 6.32%, and NVIDIA (NVDA), which went up 3.33%. Yet Bitcoin-linked investment vehicles, including the iShares Bitcoin Trust ETF (IBIT), showed a parallel upward trajectory, reflecting broader investor interest in digital assets.
Bitcoin’s positive divergence amid a mixed economic backdrop, characterized by modest dollar weakness and tech equity strength, indicates sustained market demand.
