Bitcoin soars above $64,000, technology stocks rise hand in hand with the crypto market

Core Points

Bitcoin rose 3.5% to approach US$64,000, with a cumulative gain of 4.2% this week

Major altcoins (Including Ethereum, Ripple, Dogecoin and Solana) all recorded gains on Friday.

Nasdaq led the way, rising 1.3%, and the S & P 500 index rose 0.8%.

Memory chip makers such as Micron Technology and SanDisk led the gains in the S & P 500

The depreciation of the US dollar combined with strong demand for artificial intelligence chips. Promote the coordinated rise of cryptocurrencies and stock markets

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Core points

Semiconductor sector drives broader market momentum

On Friday, the world\'s leading cryptocurrency rebounded to near the US$64,000 mark. Getting rid of mid-week declines triggered by escalating geopolitical tensions. The rebound coincided with sharp gains during Asian trading hours and continued weakening of the U.S. dollar.

Bitcoin (BTC) price

This \"digital gold\" fell to about $61,850 after President Trump made remarks about a possible expansion of military action against Iran, and then rebounded by 3.5%. The 24-hour transaction volume reached US$28 billion. Bitcoin has gained 4.2% this week.

Ethereum rose 2.6% to $1,760, a weekly gain of 4%. Ripple rose 2.2%, while Bochang became the strongest performer among the major cryptocurrencies this week, with a gain of 4.7% on the seventh day. Dogecoin rose 2.6% daily, but it still fell slightly this week. Solana was the only major token that failed to achieve weekly profit, rising 2.6% on Friday, but still losing 2.1% weekly.

Market observers point to leveraged trading as a key factor in the rapid rebound in prices. Traders quickly re-entered the market within hours after closing their positions under the influence of geopolitical news.

\"When the liquidation cascade begins to affect price movements, the market may accelerate beyond what fundamental demand can support,\" explained Sean Young, principal analyst at MEXC Research.

The semiconductor sector drives broader market momentum

The rebound in cryptocurrencies coincides with the strong performance of the stock market. In Asia, South Korea\'s Composite Stock Index surged 4%, driven in part by memory chip maker SK Hynix, which successfully priced American Depositary Shares at US$26.5 billion, making it one of the largest equity offerings this year.

The Morgan Stanley Capital International Asia Pacific Stock Index rose 1.4%, narrowing the weekly decline to below 1%. The yen appreciated 0.6%, while Japanese government bond yields narrowed after Japan\'s Finance Minister called on pension funds to increase domestic asset allocation.

The U.S. market reflects strength in the technology sector

The U.S. stock index closed higher on Thursday, led by technology stocks. Nasdaq gained 1.3%, the S & P 500 gained 0.8%, and the Dow Jones industrial average gained 129 points, or 0.3%.

About two-thirds of the S & P 500 stocks closed higher. Memory chip makers Micron Technology and SanDisk were among the top gainers on the day, while optical technology companies Rumatum and Corning also performed strongly.

The dollar fell for the second consecutive week. Bitcoin market observers emphasize the importance of this development. This week\'s appreciation of cryptocurrencies comes as the U.S. dollar depreciates, suggesting that this trend stems in part from foreign exchange dynamics rather than purely cryptocurrency phenomena.

Bitcoin\'s weekly performance was not driven by specific catalysts for cryptocurrencies. The main ETF funds flow is missing, there is no agreement upgrade, and the trading platform is operating normally. Bitcoin withstood fluctuations in oil prices, bond market turmoil and two rounds of U.S. military operations against Iran, but still achieved weekly gains.

If the weakness of the U.S. dollar continues and demand for artificial intelligence chips remains at current levels, market analysts expect the cryptocurrency market to continue to be correlated with the semiconductor industry cycle.