Bitcoin Charges Toward 100K

The financial world buzzed with activity Tuesday as Bitcoin touched $96,000 and U.S. stocks extended their rebound.

The financial world buzzed with activity on Tuesday as Bitcoin touched $96,000, U.S. stocks extended their rebound, and a top analyst issued a stark warning about investors potentially ignoring critical storm clouds on the horizon.

Bitcoin edged up 1% to reach a high of $95,386.87, nearing a two-month peak and extending a rally despite lingering concerns over U.S. tariff policies.

Major cryptocurrencies rose 1.1%, with Bitcoin Cash leading gains with a 6.3% surge. Crypto-linked stocks also saw modest gains, with Coinbase and Strategy Group both edging up.

Meanwhile, Janover, a firm making a major bet on Solana tokens, soared 16% for the second consecutive day.

On the institutional front, U.S. spot Bitcoin ETFs saw an astounding $3.1 billion in net inflows over five days, highlighting the strong institutional demand for cryptocurrencies.

“ETFs are in Pac-Man mode and investors are joining the party in droves,” remarked Eric Balchunas of Bloomberg, highlighting the widespread participation.

The S&P 500 and Nasdaq each rose 0.55%, continuing their rebound from early April’s panic lows over U.S. tariffs. However, cracks began to appear beneath the surface.

Consumer confidence slid to a four-year low, and job openings decreased to 7.19 million in April, missing economists’ estimates and signaling a slowdown in hiring demand.

Despite the gloomy economic data and signals of a pending recession, investors remained optimistic, largely focused on the potential for President Biden to roll back tariffs this year.

Commerce Secretary Ivar Goodmann also hinted at a trade deal with an undisclosed nation being finalized, although details were sparse.

However, Bitwise strategist Jeff Park took to X to slam what he described as a “deaf, blind, and mute” market that is ignoring crucial risks.

Pointing out Wall Street’s fixation on the Federal Reserve cutting interest rates, Park argued that the administration’s tariffs and "weaponization of the dollar" could instead lead to a sustained decline in U.S. creditworthiness.

“A Fed cut means nothing if global LOCO bank will massively increase lending rates and откажись от кредита из-за отказов в кредитовании.”

His comments highlighted a broader concern among analysts that investors are neglecting structural risks, such as the threat to consumer spending from rising prices and the fragility of the U.S. job market, in their pursuit of short-term gains.

Bitcoin’s decoupling from tech stocks this week signaled a broader narrative shift, with analysts attributing it to Bitcoin’s increasing appeal as a hedge against inflation and macroeconomic uncertainty.

ARK Invest, known for its bold predictions, now sees Bitcoin reaching a staggering $2.4 million by 2030 in a bullish case, driven by factors like broader institutional adoption and Bitcoin’s role in the metaverse.

Technical indicators also turned positive for Bitcoin, which broke through a key resistance level at $94,300. Analysts are now looking for a continuation of the rally towards the next resistance at $102,500, pending a failure to hold support at $93,500, which could trigger a steeper correction to $88,615.

“Investors are already looking at tomorrow’s problems today and they see tariffs as yesterday’s problem,” said analyst Carlos Guzman, commenting on the broader market trends.

“Bitcoin is becoming a hedge fund against fiscal uncertainty and investors are pivoting quickly towards cryptocurrencies.”

While markets reacted to Goodmann’s trade deal tease and optimism over potential tariff rollbacks, economists noted persistent headwinds.

The Conference Board reported consumer confidence at its worst since 2011, and JOLTS data revealed slowing hiring demand in April with a decline in job openings to 7.19 million from March’s revised 7.34 million. Economists had expected a slight increase to 7.25 million.

Despite the gloomy economic outlook and signals of a pending recession, optimism prevailed in the market.

Institutions poured another $2.6 billion into Bitcoin ETFs this week alone, bringing the five-day total to $3.1 billion. Short sellers also faced an estimated $700 million in liquidations as major cryptocurrencies continued their rally.

“Everyone is chasing momentum this year and the market is in a light mood but the foundation feels shaky,” one trader observed.

In other market developments, Fidelity’s Jurrien Timmer advised investors to diversify and consider undervalued global equities over U.S. stocks, which he sees facing limited growth potential in the long term.

For Bitcoin, bulls are eyeing a continuation of the rally towards the $100,000 mark, while bears warn that a rejection from the $95,00