📈 US Stock Market Rallies, Bitcoin Hits New ATH
The United States (US) stock market recorded a simultaneous rise amid a surge in Bitcoin (BTC) prices, which achieved a new all-time high (ATH) of $118,400. This increase pushed BTC's market capitalization to over $2.34 trillion, with a daily surge of 5.94%.
On the other hand, the performance of major US stock indices also showed a positive trend. The Dow Jones Industrial Average rose by 192.34 points or 0.43% to 44,650.64, followed by the S&P 500 which strengthened by 0.27% to 6,280.46, and the Nasdaq Composite which edged up by 0.09% to 20,630.66. Not to be outdone, the NYSE Composite also rose by 69.88 points or 0.34%, closing at 20,678.11.
The combination of strengthening cryptocurrency and stock assets indicates increasing investor confidence in the market. This sentiment has been further bolstered by US President Donald Trump urging the Federal Reserve (The Fed) to promptly cut interest rates to support economic growth.
> Disclaimer: Not financial advice. Do your own research (DYOR).
