Bitcoin and Crypto Recover as US Stock Market Adds $2 Trillion at Open
Bitcoin and the broader crypto market see a slight recovery amid a rebound posted by the U.S. stock market as trade concerns dissipate.The financial markets are rebounding sharply today, April 8, 2025, following a turbulent stretch driven by renewed trade tensions that saw Bitcoin drop to new yearly lows and the U.S. stock market lose trillions in valuation. US Stock Market Adds $2T at OpenParticularly, the massive turnaround saw the U.S. stock market surge at the opening bell, recovering nearly $2 trillion in market cap, according to market commentator Mario Nawfal.This sharp recovery followed steep losses last week triggered by fresh tariff announcements from President Donald Trump. Notably, the $2 trillion addition at open marked a massive bounce from the previous market drawdown.Specifically, major U.S. stock indices posted strong gains, indicating a return of investor confidence. The Dow Jones Industrial Average climbed approximately 1,238 points, translating to a 3.2% jump. The S&P 500 followed closely, rising 3.4%, while the tech-heavy Nasdaq Composite posted the biggest rally among the three, up by 3.6%. For context, these gains came after reports confirmed that several trade partners, including Japan and Indonesia, had entered negotiations with the U.S., presenting trade concessions to avoid the full brunt of the proposed tariffs.Interestingly, technology stocks led the charge. Tesla and Nvidia each surged over 6%, while tech giants like Amazon and Microsoft also recorded strong intraday momentum. Meanwhile, in the healthcare sector, increased Medicare Advantage payments contributed to a notable upswing. Meanwhile, retail stocks benefited from earnings optimism, as seen in Levi Strauss' performance, further lifting investor sentiment.Bitcoin and Crypto RecoverIn parallel with the U.S. equities market, the crypto sector is also on the rebound, though to a lesser extent. The total crypto market cap rose 1.42% today, reaching $2.51 trillion. This represents an 8% recovery from yesterday's lows of $2.31 trillion, a low not seen since November 2024.Bitcoin continues to lead the broader crypto recovery. The leading crypto asset climbed 0.61% over the past 24 hours, hovering just below the key $80,000 resistance level at $79,935. XRP is also showing strength. The asset posted a 0.95% increase in the past day and is now inching closer to the $2 milestone, currently trading at $1.9495.
Text source: The Crypto Basic
