The current cross-asset dynamic reflects resilient risk appetite, with the tech-led Nasdaq the Nasdaq’s earlier ~1.3% rebound this week as strong economic data and corporate earnings continue to outweigh near-term geopolitical concerns tied to the Iran conflict and potential 15% global tariffs.

Meanwhile, rising U.S. Treasury yields, with the 10-year hovering near 4.09%, signal market expectations that inflation could remain persistent or even reaccelerate due to elevated energy prices and tariff pressures.

Despite this, equity momentum remains intact and Bitcoin’s recent rally above $73,000, its highest level since early February, highlights crypto’s growing role as a hedge against fiat debasement and policy uncertainty.

Liquidity conditions remain broadly supportive across equities, commodities, and digital assets.

Central bank caution, continued deficit spending, and potential disruptions in the Persian Gulf are keeping real yields contained while directing capital toward growth sectors and scarce assets.

Looking ahead, the durability of this rebound will depend largely on de-escalation in the Middle East and greater clarity around tariff implementation.

Absent major supply shocks, continued technological innovation and steady institutional adoption of crypto could help sustain upside momentum.

From Bitget’s perspective, this environment remains constructive for diversified exposure to high-conviction assets, supporting deeper participation and continued maturation across both traditional and digital financial markets.

Ryan Lee, Chief Analyst at Bitget

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