Bitcoin pushed back above $64,000 in early US trading on Tuesday, following a broader rebound in risk assets after several sessions of turbulence.
Recently trading at $64,200, bitcoin was still down 0.75% over the past 24 hours, but well above the morning’s low of $62,500. Ether (ETH) and solana (SOL) also reduced their significant initial losses.
Crypto’s close correlation with tech stocks remained evident, with software stocks – represented by the iShares Software Sector ETF (IGV) – rebounding 1.7% after recent heavy losses due to fears that artificial intelligence (AI) tools could destroy their business models.
The gains came as some companies, including Intuit and DocuSign, announced partnerships with AI company Anthropic, signaling that incumbents may be able to adapt rather than be displaced.
Meanwhile, traditional safe havens have lost ground. Gold fell 1.5% during the session, while crude oil slipped 0.5% as geopolitical tensions eased. Reports cite Iranian Deputy Foreign Minister Majid Takht-Ravanchi as saying the country “is ready to take all necessary steps to reach an agreement with the United States,” tempering fears of an imminent military strike.
The tech-heavy Nasdaq 100 traded 1.1% higher, while the broader S&P 500 index rose 0.8%.
High-performance computing companies and bitcoin miners – increasingly tied to AI data center infrastructure – have joined the trend. Bitdeer (BTDR), Cipher Mining (CIFR), Hut 8 (HUT) and TeraWulf (WULF) led the gains, up 6-10%.
Much of the rest of the crypto-related sector was slightly lower, with Coinbase (COIN), MARA Holdings (MARA), and Strategy (MSTR) among those posting losses of 0.5% to 1%.
