Stocks Surge 3% While Bitcoin Slides Back to $78,000
"Decoupling" is evident as stocks rise while bitcoin (https://holder.io/coins/btc/) declines. On Tuesday, the Nasdaq increased by 3% and the S&P 500 nearly mirrored that gain. In contrast, bitcoin, which briefly surpassed $80,000, has dropped to just above $78,000, nearing its low of approximately $75,000 from the weekend.
The stock market's recovery follows significant losses triggered by President Trump's tariff announcements. Positive headlines, including a potential trade deal with South Korea and Treasury Secretary Bessent's optimistic outlook on U.S.-China relations, have contributed to the rally. Globally, European stocks are up by 3%, and Japan's Nikkei surged by 6%.
Key Points
- Bitcoin is down about 9% since last Wednesday's tariff announcement.
- The Nasdaq declined roughly 8% during the same period.
- Bitcoin has retreated nearly 30% from its January peak but is still up 14% since last November's election.
- The Nasdaq has dropped nearly 10% since that time.