#CryptoIn401k Bargain hunters drive cryptocurrencies up to 80% and limit Bitcoin's reaction

The net capital inflow indicates that the cryptocurrency market may have already priced in Trump's tariff hike, despite the diffuse movements of the S&P 500 and the Nasdaq.



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The cryptocurrency market recorded a market capitalization of $3.87 trillion (+1.3%) on the morning of this Friday (8), when Bitcoin

BTC

€100,358

was hovering around $116,800 (+0.1%) with market dominance reduced to 60%, investor sentiment close to greed (59%) and major altcoins elevated, up to 80%.

Bitcoin's movement was dissociated from the S&P 500, which closed the previous day's session with a decline of 6,340 points (-0.080%), due to macroeconomic uncertainties with the start of the U.S. tariffs imposed by President Donald Trump. On the other hand, the crypto benchmark may also have been influenced by bullish catalysts, such as the growing expectations of interest rate cuts from the Federal Reserve (Fed) in September and the publication of optimistic earnings from major tech companies, which helped propel the Nasdaq index to 21,242.70 points (+0.35%).

The net capital inflow into the cryptocurrency market allowed for the recovery of Bitcoin's support at $115,000, but the loss of dominance indicated that traders showed little willingness to break the resistance of $117,000.