Bitcoin Sees Selling at $97K, Cardano’s ADA Leads Majors Gains Ahead of FOMC Meeting

Market volatility may soar as a regional tussle between India and Pakistan intensifies and the U.S.-China trade war looms.

What to know:

Bitcoin surged past $97,000 before sliding to $96,500 amid escalating tensions between India and Pakistan.

A planned U.S.-China trade meeting initially boosted risk assets, but gains reversed with India's 'Operation Sindoor.'

Traders anticipate continued volatility, viewing Bitcoin as a hedge against geopolitical and macroeconomic risks.

Bitcoin surged above $97,000 late Tuesday, then slid to $96,500 in Asian hours Wednesday as India conducted airstrikes in parts of Pakistan to intensify tensions from the past few weeks.

A planned meeting to discuss U.S. and China tariffs sent risk assets higher in the hours since the U.S. stock market closed on Wednesday, as reported, but those gains reversed as news of India’s “Operation Sindoor” emerged in the early hours.