Markets have feared growing trade tensions between the U.S. and China, and that pushed stocks lower on Monday.
The price of Bitcoin (CRYPTO:BTC) recovered on Tuesday as investors swung back to a risk-on trade following Monday’s pessimism.
Rising trade tensions between the U.S. and China had put pressure on the market to pull back from recent highs, and that pushed stocks lower. With investors looking for a “safe” alternative, they pushed gold and Bitcoin higher, with the biggest cryptocurrency jumping 5.2% in the last 24 hours as of 2:10 p.m. ET today.
Crypto miners followed the move with TeraWulf (NASDAQ:WULF) jumping as much as 20.9%, Riot Platforms (NASDAQ:RIOT) rising 14.3%, and MARA Holdings (NYSE:MARA) climbing 12.2%. The stocks are currently up 17.6%, 12.1%, and 11.1% respectively.
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Travis Hoium (Motley Fool Contributor) has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin.
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