bitcoin It surged back above $64,000 in early U.S. trading on Tuesday, following a broader rally in risk assets after several sessions of turbulence.
Recently trading at $64,200, bitcoin was still down 0.75% over the past 24 hours, but well above the morning low of $62,500. Ether (ETH) and solana (SOL) also reduced large initial losses.
The close correlation of cryptocurrencies with technology stocks remained evident, with software stocks, represented by the iShares Software Sector ETF (IGV), rebounding 1.7% after recent steep losses on concerns that artificial intelligence (AI) tools will destroy their business models.
The gains came as some companies, including Intuit and DocuSign, announced partnerships with artificial intelligence firm Anthropic, signaling that incumbents could adapt rather than be displaced.
Meanwhile, traditional shelters lost ground. Gold fell 1.5% during the session, while crude oil fell 0.5% as geopolitical tensions eased. Reports quoted Iran’s Deputy Foreign Minister Majid Takht-Ravanchi as saying that the country “is ready to take any necessary steps to reach an agreement with the United States,” allaying fears of an imminent military attack.
The tech-heavy Nasdaq 100 traded 1.1% higher, while the broad-market S&P 500 rose 0.8%.
High-performance computing companies and bitcoin miners, increasingly tied to AI data center infrastructure, joined the movement. Bitdeer (BTDR), Cipher Mining (CIFR), Hut 8 (HUT), and TeraWulf (WULF) led the gains, rising between 6% and 10%.
Much of the rest of the cryptocurrency-related sector fell modestly, with Coinbase (COIN), MARA Holdings (MARA), and Strategy (MSTR) among those showing losses of 0.5% to 1%.
