According to recent analyses, the U.S. stock market concluded February on a negative trajectory, primarily driven by disappointing economic indicators and the ramifications of trade policies. The Nasdaq Composite index experienced a notable decline of nearly 4%, marking its worst monthly performance since April of the previous year, while the S&P 500 and Dow Jones dropped by 1.42% and 1.58%, respectively. The cryptocurrency space mirrored this volatility, largely influenced by the uncertainty surrounding U.S. tariffs and macroeconomic conditions. Last week saw Bitcoin dip to approximately $78,000, a level not observed since November, as the market faced substantial selling pressure. However, following a surprising endorsement from former President Trump for various cryptocurrencies, including BTC, ETH, and others for a potential national reserve, Bitcoin surged past $95,000, highlighting the market’s sensitivity to sentiment shifts. This week’s focus now shifts to critical reports including the February non-farm payroll data and insights from the Federal Reserve concerning economic stability.
Source: https://en.coinotag.com/breakingnews/bitcoin-surges-amid-market-volatility-trumps-call-to-include-btc-in-national-crypto-reserve-ignites-recovery/