u.today
22 April 2025 17:41, UTC
Bitcoin, the leading cryptocurrency, has reclaimed the $90,000 level for the first time since March 7.
Earlier today, the flagship coin surged to an intraday high of $90,521 on the Bitstamp exchange.
The flagship cryptocurrency is benefiting from the "decoupling" narrative, which is seemingly gaining traction.
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As reported by U.Today, Bitcoin was firmly in the green on Monday despite a significant stock market sell-off. The cryptocurrency rallied in tandem with gold, prompting some speculation that it might finally show its risk-off side after routinely performing as a typical tech stock.
This trend seemingly continues to persist today. That said, it is worth noting that U.S. stocks are also in the green today, with the E-mini S&P 500 index futures adding more than 1.5%.
Global markets have been hit hard by the ongoing tariff mayhem that is seemingly poised to reshape global trade.
There are also concerns about the growing odds of a recession in the U.S.
The IMF has sharply lowered its forecasts for world economic growth for this year. In 2025, the US economy is expected to grow by only 1.8%.
