US Market Recovers as Bitcoin Surges Past $82,000
The US stock market is showing signs of recovery following a recent tariff pause by Trump. On April 11,the S&P 500 climbed 0.83%, reaching 5,531. the Nasdaq, heavily weighted with tech stocks, rose 1.02% to 16,555.96. The dow Jones also saw a 0.80% increase, hitting 39,910.
This positive trend suggests investors are becoming more confident. As a result, cryptocurrencies are also gaining ground. Bitcoin is now trading above $82,000, up 4.47%. Ethereum has also seen a 5.68% increase, reaching $1,587.01.
However, not all indicators are positive. Consumer sentiment has dropped to 50.8 points,according to the University of Michigan survey. This is a meaningful decrease from March’s 57.0 points. Inflation fears are likely the cause, with year-ahead expectations rising to 6.7%.
These inflation concerns are also affecting the bond market. Yields on 10-year treasuries have risen to 4.466%, indicating a lack of liquidity. Peter Tchir, head of US macro strategy at Academy Securities, notes that foreign holders are particularly worried about the political and economic uncertainty under Trump’s management.
Despite these challenges, the market’s recovery and Bitcoin’s surge offer a glimmer of hope. However, lingering fears over inflation, trade, and a potential recession continue to cast a shadow over the financial landscape.
