Bitcoin (BTC) has surpassed the $96,000 level. This is due to the New York stock market's rebound after Microsoft and Meta Platforms announced better-than-expected first-quarter results, reviving investment sentiment towards risk assets.
According to CoinMarketCap, a global virtual asset market tracking site, as of 8 AM on the same day, BTC recorded $96,407.31, up 2.40% from the previous day. At the same time, the altcoin leader Ethereum (ETH) rose 2.42% to $1,839.41, XRP increased 1.03% to $2.215, and Solana (SOL) rose 2.18% to $150.21.
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Major virtual assets are showing a mixed trend in domestic exchanges. On Bithumb, BTC recorded 138,959,000 won, down 0.24% from the previous day. ETH was traded at 2,652,000 won, down 0.34%. XRP and SOL both fell by 1%, trading at 3,193 won and 216,500 won respectively.
Microsoft announced its first-quarter results after market close the previous day. Sales were $7.007 billion, and earnings per share (EPS) were $3.46, exceeding market expectations. Meta Platforms also released its first-quarter results at the same time. Sales were $42.31 billion, and EPS was $6.43, both significantly higher than market forecasts. With AI investment expansion driving performance, other big tech stocks like Nvidia (2.6%), Broadcom (around 2%), and Alphabet (around 1%) also rose in tandem.
The virtual asset market continues to rise due to the revived risk asset preference sentiment following the strong performance of tech stocks. Steven Lovka, Head of Private Clients at Swan Bitcoin, explained, "BTC has been rising amid market confusion due to tariff issues, but now it's rising again following 'risk-on' sentiment." He added, "On Wall Street, there's a narrative that 'you win whether heads or tails come up' - if the economic situation worsens, BTC rises along with gold, and conversely, if tariff issues are resolved and the market stabilizes, BTC still benefits."
The Crypto Fear and Greed Index from alternative asset data analysis company Alternative.me dropped 3 points to 53 points, indicating a state of "greed". This index means that the closer to 0, the more constrained the investment sentiment, and the closer to 100, the more overheated the market.
- Reporter Do Ye-ri
- yeri.do@sedaily.com
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