BTC price bounces as big tech earnings fuel optimism; short-term pressures remain: Crypto Daily
Bitcoin Crypto BTC price bounces as big tech earnings fuel optimism; short-term pressures remain: Crypto Daily Bitcoin climbed to $77,400, turning higher with other risk assets after earnings reports from the largest U.S. tech companies helped steady markets. The gains came after Apple (AAPL) joined peers with an earnings report that improved sentiment across the industry. The companies, which include Google parent Alphabet (GOOG), Microsoft (MSFT), Meta (META) and Amazon (AMZN), all reported double-digit revenue growth earlier this week. The earnings reports helped risk assets rise as renewed confidence in the AI growth story pulled investors back into equities and crypto, though the bounce so far reflects relief buying rather than conviction that a new rally has begun. In a note shared with CoinDesk, crypto exchange Mercado Bitcoin said the market is dealing with “short-term pressure with still-mixed structural factors,” including reduced rate-cut hopes, ETF outflows and higher geopolitical risk. Crypto prices held this week even as oil surged and spot bitcoin ETFs saw more than $400 million of outflows as April came to a close. Oil remains a key factor. Higher crude prices from the Iran conflict and disruption in the Strait of Hormuz could feed inflation, making central banks less willing to cut interest rates.