Bitcoin (BTC) Reclaims $95K Mark Following Initial Drop in the U.S.
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<img src="https://cdn.sanity.io/images/s3y3vcno/production/51367570137bef1f7160f798354c2c1a869aa2e4-1440x1080.jpg?auto=format&w=1920&h=1080&crop=focalpoint&fit=clip" /><br>Bitcoin (BTC) fell early in the U.S. trading session but mostly held steady amid disappointing macroeconomic news. The top cryptocurrency was trading just below $95,000, reflecting a 0.5% increase over the past 24 hours. The CoinDesk 20 — an index of the top 20 largest cryptocurrencies by market capitalization, excluding memecoins, exchange coins, and stablecoins — remained relatively flat during the same period.
Crypto stocks like Coinbase (COIN), Strategy (MSTR), and various mining companies experienced slight dips after significant gains last week. Notable exceptions included Janover (JNVR) and DeFi Technologies (DFTF), which saw increases of 24% and 6.5%, respectively, even as SOL — the token both companies are actively acquiring — fell about 3% during the U.S. trading day.
Meanwhile, gold rose nearly 1%, and the dollar index decreased by 0.6%. The S&P 500 and Nasdaq generally improved in performance late in the session after an earlier drop exceeding 1%.
The Dallas Fed Manufacturing Index, a typically low-profile economic indicator, plummeted to -35.8 from -16.3 last month — significantly worse than analysts anticipated with a forecast of -14.1, marking the weakest performance since the onset of the COVID pandemic.
“Pretty horrible Dallas Fed Manufacturing Survey. Level hits the lowest since May 2020,” shared Joe Weisenthal, co-host of the Odd Lots podcast, on X. “All the comments are about tariffs and policy uncertainty. Add it to the list of bad soft/survey data.”
Additionally, rising tensions between India and Pakistan might have contributed to market unease, with Pakistani Defense Minister Khawaja Muhammad Asif stating that an Indian military incursion into Pakistan was imminent. Last week, 26 individuals were killed in a terrorist attack in Pahalgam, a well-known tourist spot in Indian-controlled Kashmir, leading to exchanges of fire between the two countries.
