Cardano’s ADA and Ether (ETH) zoomed over 14% in the last 24 hours, leading profit among major cryptocurrencies as Bitcoin (BTC) surpassed $93,500 late Tuesday in a new hope of a suppressed approach to joint war.
BTC jumped 6.5%, while Solana’s Sol, XRP, and BNB chain all added 8%. Major Memokindge Coin (Doge) and Shiba Inu (Shib) climbed over 11%, while SUI network’s SUI sped 30%, leading the profits of Midcaps.
Overall market capitalization rose 4.4% to $3.03 trillion. The Broad-based Coindesk 20 (CD20) rose 5%, showing average jumps for majors.
The profit comes after President Donald Trump said on Tuesday he would significantly reduce tariffs on China and make it clear he would not fire Federal Reserve Chairman Jerome Powell.
The tone shift provided much needed relief to investors, but it also raised concerns about its management ability to maintain consistency and reliability.
“The story of Bitcoin as a ‘value store’ appears to overtake the correlation with the US market as BTC is pumped up in both negative and positive news related to Trump’s tariffs and Powell’s comments, indicating the possibility of reaching a new history high.”
Bitcoin’s resilience to US stocks has strengthened a valuable narrative among some market observers.
“There is a strong possibility that Bitcoin will lose its long-term correlation with US stocks, and as gold prices hit an all-time high, it could turn into a digital gold tale.” “We continue to affirm that investors will value BTC as a long-term storage of value.”
Some market watchers said gold advancements and Bitcoin decoupling from stocks appear to be concentrated in Asian morning hours.
“The data shows that gold derives a large portion of the assembly during Asian hours, suggesting that central banks and official flows will reach alternative, safe shelters,” said Augustine Fan, Head of Insights at Signalplus. “USD decoupling appears to be more pronounced than in previous episodes.
“One of the possible impacts of US decoupling is the revisiting of the long-term BTC Bull case as a valuable reservoir. It has also criticised BTC as a NASDAQ proxy for the past year, but has finally begun to move away from the stock market and show its own indications,” fans said.