Bitcoin recorded its biggest weekly gain since the US election, outperforming US stocks

Odaily News Bitcoin led a rebound in risk assets and is on track for its biggest weekly gain since Trump won the U.S. presidential election. The tech-heavy Nasdaq 100 index rose about 5% as investors digested the impact of Trump's trade war, but Bitcoin has risen about 12% since last week, breaking through $95,000 for the first time since early March. "Amid the continued volatility, implied correlations within cryptocurrencies remain high," said Jack Ostrovsky, a trader at cryptocurrency market-making firm Wintermute. "So, despite improvements across the market, it's clear that macro and geopolitical forces remain the main drivers of capital flows." (Jinshi)