The stock market tariff tantrum of the past few weeks has seen the Nasdaq 100 and S&P 500 give up all their gains since the early November election victory of Donald Trump even as bitcoin (BTC) remains in positive territory.
Both equity gauges are now more than 2% lower, while bitcoin is up over 20% in the same time frame.
Market leader Nvidia (NVDA), whose chips are in demand for uses in AI, for instance, is lower by more than 20% since Trump’s triumph. On the flip side, Meta Platforms (META) is the stand out stock in the so-called magnificent seven technology companies having gained about 10%.
While bitcoin buyer Strategy (MSTR) is down over 50% from its all-time high in November, it remains up 20% since the election.
Though bitcoin bulls are surely disappointed in the price performance of late — the world’s largest cryptocurrency has slumped about 20% from $109,000 the day before Trump was inaugurated on Jan. 20 — the current price of $88,000 is still up roughly 20% from its level just prior to the November election.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Despite the crypto market’s renewed weakness on Thursday, a new AI-driven market model produced by…
The recent price action echoes the November–January pattern, showing weak conviction among the “buy the…
Morgan Stanley has filed to launch a spot Bitcoin ETF with the ticker MSBT and…
Oil prices slipped as major economies announced joint efforts to stabilize energy markets.Read MoreCoinDesk: Bitcoin,…
BTQ Technologies moved a key Bitcoin (BTC) security proposal from theory to practice on Thursday,…
Bitcoin price started a sharp decline from well above $73,000. BTC is now consolidating and…