Bitcoin Recovers, Wall Street Turns Up

In the United States, the stock market turned higher on Tuesday, driven by the technology sector and other more risk-oriented investments.

The S&P 500, which tracks large companies, strengthened by 0.3 percent and the industrial company index Dow Jones by 0.4 percent. The technology-focused Nasdaq, on the other hand, advanced 0.6 percent.

From large technology companies Apple rose 1.1 percent, Meta percent, Microsoft 0.7 percent and Nvidia 0.9 percent.

At the time of writing, the cryptocurrency Bitcoin was up more than five percent at around $91,200. Stocks related to cryptocurrencies remained on the rise on Tuesday, although the momentum slowed at the end of the trading day. For example Strategy strengthened by 5.8 percent, Coinbase 1.3 percent and Circle two percent.

Bitcoin has fallen sharply from its all-time high seen in October. During the previous month, the value of the cryptocurrency has fallen by more than 17 percent.

“I think the stabilization of cryptocurrencies is probably more important than people might think,” says Sevens Report Researchin founder and director Tom Try to the Barrons website.

According to him, stabilization and the subsequent rise would support the market more broadly. That, in turn, could lead to a so-called Santa Claus rally.