Bitcoin Buckles as Stocks Stumble, Trade War Fears Loom

The Nasdaq 100, S&P 500, and SCHD have all experienced a retreat in recent days, while Bitcoin (BTC) has remained relatively strong. Despite the dip in BTC's price over the past week, the cryptocurrency has held steady at around $95,000, even as stock indices and exchange-traded funds (ETFs) have taken a significant hit.

The blue-chip S&P 500 fell by 1.71%, while the Nasdaq 100 dropped by 2%, erasing 455 points. Similarly, the small-cap-weighted Dow Jones and Russell 2000 fell by 1.70% and 3%, respectively. The Schwab US Dividend Equity ETF, which handles a significant amount of value in stocks, also took a beating and is down by 5%. Many technology stocks, including Meta, Microsoft, Apple, and Nvidia, suffered greatly and were among the lowest-performing stocks.

Experts attribute this decline to the looming threat of a trade war, but market data shows that the Consumer Price Index rose by 3.3% in January, moving further away from the target of 2%. Despite the widespread panic in the industry, BTC and other cryptocurrencies have remained unaffected by the upheaval.

BTC's price has shown signs of stabilizing, with weekly charts indicating bullish sentiments. At the time of writing, BTC is trading at $96,626.05 with a 0.40% uptrend. While the uptrend percentage may not be significant, it is an improvement from before. If BTC breaks the $98k mark, sources suggest it could reach the $100K mark, triggering a strong bullish sentiment that could help the cryptocurrency recover its all-time high (ATH) price in the coming months.