By Jordan Liu, Crypto Markets Correspondent | April 30, 2025
Bitcoin surged to a high of $95,400 on Tuesday before retreating to the $94,000 level by the end of the day, posting a modest 1.1% intraday decline. The volatility came as major crypto-related stocks posted mixed performances and U.S. equities closed slightly higher.
Intraday Spike Followed by Sharp Pullback
Bitcoin saw a sharp upward move early Tuesday, briefly breaking above $95K for the first time in weeks. However, the gains were short-lived, with the cryptocurrency sliding back to around $94,000 by market close, reflecting a 1.1% loss on the day.
Crypto Stocks React Differently
Crypto-exposed equities responded variably to Bitcoin’s movements. Coinbase (COIN) rose 0.8%, while MicroStrategy (MSTR), known for its heavy BTC holdings, advanced 3.2%. Traders cited short-term profit-taking and technical resistance as drivers behind Bitcoin’s pullback.
Broader Market Steady
Traditional equities also saw gains on Tuesday, with the S&P 500 and Nasdaq both adding 0.5% each. Analysts noted that investor sentiment remains cautiously optimistic ahead of key economic data expected later this week.
Conclusion:
While Bitcoin’s move above $95K signaled continued bullish interest, its inability to hold that level suggests caution among traders. Market participants will be watching closely for signs of support around $94K as macro and regulatory factors continue to shape sentiment.
