Bitcoin has edged back above $65,000, gaining 0.8% in the last 24 hours, as a massive rally in tech stocks—led by Microsoft—lifts overall market sentiment.
Microsoft (MSFT) surged 15% in premarket trading after reporting better-than-expected earnings, driven by its cloud unit growing at the fastest pace in four years. With a market cap over $3 trillion, this is Microsoft's largest single-day gain since the Covid rally of 2020.
The Nasdaq 100 futures jumped 1.5%, and the broader Nasdaq is up over 2%, despite Meta tumbling 9% on an earnings miss.
AI infrastructure stocks are reversing recent losses: Micron, Sandisk, Applied Materials, AMD, and Intel are all up by double-digit percentages.
While crypto remains mostly overlooked by speculative capital, it is seeing a modest benefit. Bitcoin is now back at $65,000, up 0.8% over the past day.
This article was originally published on CoinDesk.
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