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U.S. stocks staged a "cat-jump", and Bitcoin once rushed to 85K
U.S. stocks finally rebounded relatively strongly yesterday. University of Michigan Consumer Survey data shows that consumer confidence in the United States plummeted from 64.7 in February to 57.9 in March 2025. But for the market, any day without Trump's tariff rhetoric is a good day. The cryptocurrency market rebounded along with other risky assets. Bitcoin once rushed to $85,309 last night, and the top ten market capitalization cryptocurrencies except TRX have gained 1.4%~7.4% in 24 hours.
No news is good news, and U.S. stocks staged a "cat-jumping"
The stock market rally temporarily calmed the nervousness of stock investors, but the aftermath of Trump's (Donald Trump) political maneuvers continues to shake global markets and rattle American consumers. German bond yields soared as government leaders agreed on a plan for massive defense spending, and the eventual safe-haven asset — gold — topped $3,000 for the first time.
( investment banks raised their gold price targets, Peter Schiff: Sell bitcoin to buy gold )
The S&P 500 rose 2.1%, its biggest gain since the November presidential election, and still fell for the fourth straight week, the longest losing streak since last August.
Data from the University of Michigan Consumer Survey released on Friday showed that consumer confidence in the United States plummeted from 64.7 in February to 57.9 in March 2025, the lowest since November 2022.
Yardeni founder Ed Yardeni described yesterday's rally as "cat-startling" (Scared-cat bounce):
Any day without Trump's tariff rhetoric is a good day for the market. Markets also rallied on fears of no government shutdown. By the time we see the stock market move higher on a day or days after Trump trumpets tariffs again, we'll be more inclined to think the stock market has bottomed out.
Bitcoin rushed to 85K at one point
The cryptocurrency market rebounded along with other risky assets. Bitcoin briefly surged to $85,309 last night and rose more than 3% in 24 hours. Bloomberg ETF analyst Eric Balchunas believes that despite the painful 25% decline, more than 95% of Bitcoin ETFs have remained cash invested, and baby boomers are showing how they can do it like a duck. He stressed that this is not stupid money, but engaged in the creation of wealth. These people have not opted out, the US stock market is still their main investment, and Bitcoin is like a little hot sauce of 1-2% that can make life interesting and heal the potential of future FOMO.
( retail investors continue to be low, the market has not yet bottomed, is the "retail counter-indicator" still valid? )
The top ten market capitalization cryptocurrencies, except for TRX, all have a 1.4%~7.4% increase in 24 hours.
Source: CoinGecko
This article US stocks staged a "cat-jump", Bitcoin once rushed to 85K first appeared in chain news ABMedia.