Bitcoin hit its largest weekly gain since the U.S. election, outperforming U.S. stocks
Online reports say Bitcoin has led a rebound in risky assets and is expected to record its largest weekly gain since Trump won the U.S. presidential election. As investors digested the impact of Trump's trade war, the technology-dominated Nasdaq 100 index rose about 5%, but Bitcoin has risen about 12% since last week, breaking through $95,000 for the first time since early March. Jack Ostrovsky, a trader at cryptocurrency market-making firm Wintermute, said: "Amid constant shocks, the implicit correlation within cryptocurrencies remains high." "So while the overall market has improved, it is clear that macro and geopolitical forces remain the main drivers of capital flows."
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