Bitcoin is trading above the $94,000 price level at the time of press, following a bullish 24 hours overall. The largest cryptocurrency by market capitalization has shown a strong footing over the last 72 hours, even as the stock market and the traditionally stable bond market continue to exhibit erratic patterns. Bitcoin’s latest bull move has propelled the major digital currency’s total market capitalization above $1.87 trillion, and a 11.6% spike in weekly trading volume has been witnessed. The premier digital asset has risen strongly from its April lows of around $75,000 and is now 25% higher from that level, showing strong gains despite the overall gloomy outlook. Stocks Fall, Gold and BTC Rise Bitcoin has long been touted as a valid store of value alongside Gold. Its safe haven reputation has strengthened over time and was on display during the last few weeks as the world grappled with US President Donald Trump’s global tariff wars. Here is an interesting CNBC infographic: While both BTC and Gold have performed well this month, stocks continue to suffer due to ongoing uncertainty in traditional markets. In addition to the stock market, US government bonds are also facing some selling pressure. These U.S. Treasury securities have historically been considered among the safest investments, with steady interest rate returns. However, for the first time, these payments are expected to surpass the US government’s defense spending, which highlights the pressure on the American economy. There has been some selling in the bond market, which has alarmed economists in the US and around the world, and has stopped Trump from firing the head of the US Federal Reserve, Jerome Powell, following a dispute on interest rates. If the bonds fall further, we could face a major financial crunch immediately, as it indicates that trust in the US government is declining quickly. ETFs Record Major Inflows In addition to crypto exchange volumes, major US-based Bitcoin Exchange-Traded Funds (ETFs) also experienced significant net inflows after a long time. In total, the 11 ETFs had $381 million in net inflows on Monday and a massive $912 million on Tuesday, showing a sharp uptick in institutional activity. Altcoins Respond This string of positive developments has reignited the crypto market, and there are hopes that the long-term bull market of 2024-2025 will resume in the near future, following several months of a bearish outlook. The rest of the coin market also experienced healthy gains as it followed BTC into short-term bullish territory. Major gainers included Ethereum (ETH, 10%), Ripple (XRP, 8%), Solana (SOL, 8%), Dogecoin (DOGE, 11%), Cardano (ADA, 10%), and Sui (SUI, 23%).
