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Bitcoin (BTC) Gains Support from a NASDAQ 100 Rally on Friday
While the US equities markets supported Bitcoin on Friday, it remained under pressure due to an impending White House executive action.
Bitcoin (BTC) gained ground for the second day in a row on Friday. After reversing losses late in the day on Thursday, US futures provided significant support heading into Friday.
Following a 0.99 percent rise on Thursday, Bitcoin increased by 1.54 percent on Friday to close at $37,760. The news wires failed to pressurize Bitcoin on the day, with the US equities markets directing it.
Bitcoin and the NASDAQ
The day’s economic statistics from the United States took a back seat as investors rushed in on the slide. The NASDAQ’s Friday rebound was the strongest of the year, with optimism about corporate results balancing fears about interest rates.
Sentiment from the US equities markets filtered into the crypto markets, bolstering Bitcoin on the day.
In the cryptocurrency market, Ethereum (ETH) gained 5.0 percent, while Cardano (ADA) and Solana (SOL) also gained ground. However, the gains for the day were small.
Terra (LUNA), one of the top ten cryptocurrencies, continued to suffer, falling 7.06 percent.
