The crypto market's resilience contrasts with the decline in equities and gold following Moody's U.S. credit downgrade.
By Shaurya Malwa|Edited by Parikshit Mishra
May 20, 2025, 11:42 a.m.
Statue of a bull ready to charge. (DL314 Lin/Unsplash+)
Statue of a bull ready to charge. (DL314 Lin/Unsplash+)
What to know:
Bitcoin and ether rose significantly despite a broader risk-off sentiment, with bitcoin$BTC
nearing $106,000 and ether surging past $2,900.
The crypto market's resilience contrasts with the decline in equities and gold following Moody's U.S. credit downgrade.
Aave's AAVE tokens jumped over 25%, driven by speculative interest rather than any new announcements.
Crypto markets extended their climb with ether (ETH) jumping 8% and bitcoin (BTC) inching back toward the $106,000 mark in the past 24 hours, despite broader risk-off sentiment in equities and gold.
The resilience is in contrast to Friday’s surprise credit downgrade of the U.S. by Moody’s, which cited persistent fiscal deficits and political gridlock. Yet while equities sagged and gold extended its recent decline, falling nearly 7% from May highs, bitcoin held ground and even rallied briefly to $107,000 late Sunday before retracing.