Bitcoin recorded its biggest weekly gain since the US election, outperforming US stocks
Bitcoin is leading the rebound of risk assets, with the potential to achieve the largest weekly gain since Trump won the US presidential election. As investors digest the impact of Trump's trade war, the Nasdaq 100 index, dominated by technology stocks, has risen by about 5%, but Bitcoin has already risen by about 12% since last week, breaking through $95,000 for the first time since early March. Jack Ostrovsky, a trader at the cryptocurrency market maker Wintermute, said: "In the ongoing volatility, the implied correlations within the cryptocurrency space remain high." "Therefore, despite the overall market improvement, it is clear that macro and geopolitical forces still remain the main driving factors of capital flows."
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