bitcoin surges as Markets React to Chaos
bitcoin recently spiked over 6%, reaching $94,000 on April 23. This surge broke its month-long trading range, coinciding wiht peak macro uncertainty. The digital asset, once seen as speculative, is now a key player in a chaotic market.
Stocks rose and fell based on headlines rather than data. The U.S. Dollar Index (DXY) dropped from 105 to near 99. the Fed faced criticism, with the president calling its chair a “major loser.” This market shift isn’t isolated. It reflects a broader system where traditional correlations are fraying. Risk-off assets like gold and cash usually attract investors during market turmoil. But Bitcoin defied expectations, soaring as stocks reacted to tweets and headlines. The dollar weakened, and the Fed faced political pressure. The Altcoin Season Index rose to 12, showing a Bitcoin-led move. The total altcoin market cap jumped from $997.56 billion to $1.04 trillion in two days. The correlation between Bitcoin and the S&P
