Bitcoin recorded its biggest weekly gain since the US election, outperforming US stocks

CoinRank News: Bitcoin led a rebound in risk assets and is on track for its biggest weekly gain since Trump won the U.S. presidential election. The tech-heavy Nasdaq 100 index rose about 5% as investors digested the impact of Trumps trade war, but Bitcoin has risen about 12% since last week, breaking through $95,000 for the first time since early March. Amid the continued volatility, implied correlations within cryptocurrencies remain high, said Jack Ostrovsky, a trader at cryptocurrency market-making firm Wintermute. So, despite improvements across the market, its clear that macro and geopolitical forces remain the main drivers of capital flows. (Jinshi)