Cryptocurrency and traditional financial markets rebounded strongly on Wednesday due to Trump's statement that he would lower tariffs on China and his indication that he does not intend to dismiss the Federal Reserve Chairman. BTC yesterday (23) briefly approached $95,000 and is currently reported at $93,320, fluctuating within that narrow range.
Bitcoin's fully diluted valuation (FDV) surpasses Amazon and Google.
As cryptocurrency prices recover, Bitcoin's fully diluted market value (FDV) has now reached $1.96 trillion. Compared to CompaniesMarketCap's corporate data, Bitcoin's FDV has surpassed Google's parent company Alphabet ($1.85 trillion) and Amazon ($1.91 trillion).
In fact, this is not Bitcoin's highest value, as it previously broke the $100,000 mark. However, US tech stocks have significantly pulled back this year, demonstrating the resilience of BTC prices. Compared to companies, BTC currently ranks behind only Apple ($3.07 trillion), Microsoft ($2.78 trillion), and Nvidia ($2.5 trillion), but there is still a considerable gap to gold's $22.4 trillion.
US stocks continue to rebound.
Additionally, in the traditional financial market, investor sentiment has clearly warmed up, with the US stock market continuing to rise on the 23rd:
The Dow Jones Index rose by 419.59 points (1.07%), closing at 39,606.57 points.
The S&P 500 Index closed up 88.1 points (1.67%), reported at 5,375.86 points.
The tech-heavy Nasdaq Index surged by 407.63 points (2.50%), closing at 16,708.05 points.
The Philadelphia Semiconductor Index soared by 3.96%, closing at 3,983.92 points.
Additionally, US Treasury Secretary Scott Bessent claimed last night that neither side believes the current high tariffs are sustainable, and there is an opportunity for a significant trade agreement between the US and China, but emphasized that both sides are waiting for dialogue.
Note: The US currently imposes a 145% tariff on many Chinese imported goods, with some products facing a cumulative tariff of 245%. In retaliation, China has raised the tariff rate on US goods to 125%.