- Bitcoin pushed near $97,000, lifting BTC-linked stocks across US and Asian markets.
- Tech equities lag as capital rotates toward bitcoin and precious metals.
- Political and macro uncertainty are driving demand for perceived safe-haven assets.
Bitcoin climbed higher during the US morning session, briefly touching the $97,000 level and pulling bitcoin-linked equities up with it. Strategy (MSTR), the largest corporate holder of BTC, jumped more than 8%, while KindlyMD (NAKA) surged around 10%. The momentum wasn’t limited to US markets either. In Asia, Metaplanet rose roughly 15% during Tokyo trading, and Strive (ASST) gained 7% after Semler Scientific shareholders approved the company’s acquisition.
A Clear Divergence Is Taking Shape
A noticeable split is emerging across asset classes. Technology stocks continue to struggle, with the Invesco QQQ Trust — which tracks the Nasdaq 100 — down more than 1% on the day and largely flat for the year. Bitcoin, by contrast, is up roughly 10% over the same period. That divergence suggests capital is rotating away from traditional growth equities and toward assets perceived as hedges against uncertainty.
Metals and Bitcoin Lead the Defensive Trade
Precious metals remain firmly in the lead. Gold is trading near $4,600 per ounce, while silver has climbed above $91, with psychological targets of $5,000 and $100 increasingly discussed by traders. Bitcoin appears to be moving alongside metals rather than equities, reinforcing its role as a macro hedge. With BTC hovering just below $100,000, the next major milestone is clearly in focus.
Political Risk Weighs on Equities
Bitcoin’s advance comes as investors digest escalating tension between US President Donald Trump and Federal Reserve Chair Jerome Powell. A criminal investigation into Powell reportedly began on Friday, injecting fresh uncertainty into markets. According to Trade Nation senior analyst David Morrison, investor sentiment has turned cautious amid concerns about domestic policy direction and the perceived threat to the Fed’s independence.
Why Volatility Isn’t Going Away
Market analysts say the current environment is pulling investors in multiple directions. Geopolitical risk, trade uncertainty, and questions around central bank independence are all weighing on sentiment at once. While equities have struggled under that pressure, assets viewed as safe havens — including bitcoin, gold, silver, and select altcoins — continue to attract flows. As FXTM’s Lukman Otunuga noted, volatility is likely to stay elevated, creating both risk and opportunity in the days ahead.
