Bitcoin near $95K despite tariff woes, analyst concern
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Bitcoin traded above $95,400 Tuesday, showing resilience despite economic concerns. US stocks (S&P 500, Nasdaq +0.55%) also continued their recovery from early April tariff fears. Consumer confidence hit lowest since May 2020; JOLTS job openings missed estimates. Cryptocurrency markets displayed notable stability on Tuesday, seemingly unfazed by mounting pessimism regarding the economic impact of the Trump administration’s tariff policies. Bitcoin edged higher, reclaiming ground above $95,000, while traditional stock markets also continued a recovery trend, prompting some analysts to question whether markets are accurately pricing in underlying economic risks. Markets march higher despite warning signs Bitcoin (BTC) continued its recent positive momentum, gaining about 1% over the preceding 24 hours to trade near $95,400. This move brought the key $96,000 level – last seen in late February – within striking distance. The broader crypto market showed similar resilience, with the CoinDesk 20 index advancing 1.1%. Bitcoin Cash (BCH) stood out with a significant 6.3% surge. Crypto-related equities also participated, albeit modestly, with Coinbase (COIN) up 0.9% and MicroStrategy (MSTR) adding 3.3%, while Janover (JNVR) continued its strong run (+16%) linked to its Solana accumulation strategy. This relative calm in digital assets mirrored strength in traditional equities. Both the S&P 500 and the Nasdaq composite posted gains of 0.55%, extending the recovery from the tariff-induced panic seen earlier in April. Economic data paints sobering picture However, this market buoyancy unfolded against a backdrop of increasingly concerning economic indicators, suggesting a potential slowdown possibly linked to the White House’s tariff strategies. The Conference Board reported that US consumer confidence plummeted to its lowest level since May 2020, with the forward-looking consumer outlook component hitting its weakest point since 2011. Simultaneously, the latest Job Openings and Labor Turnover Survey (JOLTS) indicated a cooling labor market, with job openings falling to 7.19 million in…
