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Cryptocurrency News Articles

Bitcoin (BTC) Reclaims the $85,000 Level, Up 7% Over the Past Week

Apr 15, 2025 at 04:22 am

Major U.S. stock indices ended Monday in positive territory, while Bitcoin reclaimed the $85,000 level and is now up 7% over the past week.

Bitcoin (BTC) Reclaims the $85,000 Level, Up 7% Over the Past Week

Major U.S. stock indices ended Monday in positive territory, while Bitcoin (BTC) reclaimed the $85,000 level and is now up 7% over the past week.

Investor sentiment improved after President Donald Trump announced exemptions on smartphones, computers, and other components from his “reciprocal” tariffs.

Apple (AAPL) shares rose 1.3% after analysts at KeyBanc Capital Markets upgraded the stock from Underweight to Sector Weight, citing optimism tied to the tariff exemption. The research firm noted that the worst-case tariff scenario is off the table – at least for now.

“We’ve taken some dry powder and put it to work last week,” said Robinhood’s Stephanie Guild on CNBC. “But we also haven’t fully removed it because we think diversification is important—not only away from the dollar, but also just being cautious and balancing between low-volatility stocks and growth stocks. There’s a put now—I think that’s been confirmed—and that’s actually really helpful.”

After a strong run-up in 2020, Guild said on Monday that she’s not surprised to see some profit-taking in the stock market.

“I think we’re in a good place right now,” Guild said.

Pointing to a decline of more than six points in the CBOE Volatility Index (VIX), several analysts said that the move in implied volatility was noteworthy given that it typically moves two to three points. The VIX, also known as the “fear index,” dipped to 34.03 on Monday.

“That move in VIX is pretty remarkable given the fact that we had a 1,000-point move in the S&P 500 last year and VIX didn't really move that much,” said Dennis Island, senior equity derivatives analyst at Societe Generale.

Moreover, U.S. Treasuries dipped lower on Monday, another sign that typically bodes well for equities. Ben Livingston, portfolio manager at OmniTrader, said that the move in yields was also interesting given the fact that they had risen sharply in recent weeks.

“I think we’re going to continue to see some pressure on bonds, but I don't think it’s going to be anything dramatic from here,” Livingston said.

Bitcoin traded above $85,000 several times during the day but failed to break higher. Still, the $84,000 level showed strong support.

Despite a 90% collapse in Mantra (OM) and several other altcoins, the broader crypto market remained resilient as investors shrugged off the declines.

Mantra CEO Konstantin Kogan said in a statement that the exchange was forced to liquidate several large crypto positions due to a “technical issue.” However, some investors believe that insider selling and fraud are to blame for the rapid decline in several altcoins.

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Other articles published on Apr 16, 2025