Bitcoin holds $64k as Microsoft earnings lift tech stocks
Bitcoin stayed put around $64,000 while a Microsoft-led tech bounce nudged stock futures higher.
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Key takeaways
- Bitcoin held its ground near $64,000 during early trading.
- S&P 500 and Nasdaq 100 futures gained 0.2% and 0.4% after dipping into correction territory.
- Microsoft surged 8% premarket following strong cloud unit growth.
Bitcoin isn't flinching, holding firm around $64,000 while a premarket bounce across big tech gives risk assets a little breathing room.
S&P 500 futures ticked up 0.2%. Nasdaq 100 contracts gained 0.4%. Not massive, but notable—it comes right on the heels of tech stocks sliding into correction territory.
Cloud growth fuels the rally
Microsoft led the charge with an 8% premarket jump. Its cloud unit logged its fastest growth rate in four years. More importantly for margins, it pulled that off while keeping overall spending firmly under control.
Why it matters
Crypto doesn't trade in a vacuum. Never has. When solid tech earnings pull traditional market indexes out of a tailspin, risk tolerance settles down everywhere else too. Bitcoin lingering near $64,000 shows traders are content to defend key support while equity markets work on finding a floor.
Source: CoinDesk
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Daniel Okoro
Daniel tracks crypto regulation and policy across the US, EU and Asia, with a decade in financial journalism.
