Bitcoin Posts Largest Weekly Gain Since US Election, Outperforms Stock Market

BlockBeats News, April 25th, Bitcoin led the rebound of risk assets, poised to mark its largest weekly gain since Trump won the U.S. presidential election. As investors digest the impact of the Trump trade war, the tech-heavy Nasdaq 100 index rose by around 5%, but Bitcoin has already risen by about 12% since last week, breaking above $95,000 for the first time since early March.

Jack Ostroffski, a trader at cryptocurrency market maker Wintermute, said: "In the ongoing volatility, the inherent correlation within the cryptocurrency space remains high. Therefore, despite the overall market improvement, it is evident that macro and geopolitical forces continue to be the primary drivers of fund flows." (FX678)