Bitcoin Surpasses $95K: Cryptocurrency Market Recovers While Stocks Sit Flat

Bitcoin has surged above $95,000, hitting $95,354, marking a significant increase from earlier in April when it was below $75,000. Stocks remain mostly flat, but Bitcoin’s rally is attributed to investor optimism following tariff announcements. The cryptocurrency market is seeing a major influx into Bitcoin ETFs, while short positions in Bitcoin are facing liquidation due to the asset’s rising price.

Bitcoin has surged past the $95,000 mark for the first time since February, now trading at approximately $95,354, according to CoinGecko. This increase marks a nearly 2% rise over the last 24 hours and a striking 13% rise over the past week. Earlier on Friday, Bitcoin even peaked at $95,563, which is notable considering it dropped below $75,000 only weeks ago.

This notable rise seems to follow a backlash against earlier volatility, particularly after former President Trump’s recent announcements on global trade tariffs which sent ripples through the market. While stocks were relatively flat on Friday, they had previously rallied earlier in the week. GSR Research’s Carlos Guzman suggested that investors are optimistic, believing the worst of tariff fears might be, at least for now, behind them. “Crypto’s behaviour has diverged from that of stocks lately,” he noted.

Interestingly, the response in the cryptocurrency market has been robust. Investors appear to be leaning into Bitcoin as a reliable store-of-value asset, a narrative that has gained traction recently. Furthermore, Bitcoin ETFs have seen a substantial influx of investments—over $2.6 billion has been funneled into these funds since Monday.

In the wake of Bitcoin’s rise, those expecting its price to drop have faced sizeable losses. CoinGlass reported that nearly $300 million in positions were liquidated in just one day, a significant portion attributable to short positions in Bitcoin that accounted for around $78 million.

The trend isn’t confined to Bitcoin; several other major cryptocurrencies have also experienced considerable gains this past week. Solana has reached about $152, Dogecoin has surpassed $0.19, and Ethereum is now trading close to $1,800. The market dynamics are clearly shifting, and it’ll be interesting to see how this plays out moving forward.