Bitcoin Leads Risk Rally with Biggest Weekly Gain Since 2020 Election

​Bitcoin just posted its biggest weekly surge since Trump's 2020 election victory, jumping 12% and flirting with the $95,000 mark.

While the Nasdaq 100 gained around 5% this week, Bitcoin left it in the dust, leading a broader rebound in risk assets. The crypto market's move comes even though Bitcoin, unlike stocks, isn't impacted by Trump’s new tariffs—a reminder that sentiment, not fundamentals, is currently king.

Despite being born as a hedge against traditional finance, Bitcoin has traded more like a high-beta tech stock since the pandemic, maintaining a tight positive correlation with major equity indices. That link remains intact even now, even as macro and geopolitical risks dominate flows, according to Wintermute’s Jake Ostrovskis.

The latest rally also ties into politics: Trump, once a skeptic of digital assets, has now embraced crypto, pledging to ensure Bitcoin mining stays in the U.S. and to create a national Bitcoin reserve. That pivot helped send Bitcoin soaring to a record $109,000 at his inauguration earlier this year—before a correction fueled by trade war recession fears.

So even though Bitcoin isn't tariff-exposed, it's trading in tandem with other risk-on bets—and benefiting when sentiment swings positive.

Bottom line: Bitcoin’s rally is fueled less by fundamentals and more by macro hope, Trump politics, and a scramble for any asset not caught in the crossfire of a looming trade war. But as history shows, when the mood flips, so does crypto. Buckle up.








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