Bitcoin has experienced a modest increase, reflecting a shift in market sentiment as traders prepare for Nvidia”s quarterly earnings announcement. This uptick occurred against a backdrop of rising global stock markets, particularly in Asia.
Prior to President Donald Trump”s State of the Union address, Bitcoin surged by over $2,000, moving from around $64,000 to approximately $66,000, as reported by CoinGecko. Following the address, it has settled back to around $65,500, marking a daily gain of about 3.5%.
Market analysts suggest that this price movement is less about Trump”s economic rhetoric and more about a general “risk-on” sentiment fueled by anticipation surrounding Nvidia”s earnings report. Derek Lim, head of research at crypto market-making firm Caladan, noted that the recent price action is a relief bounce following last week”s turmoil regarding tariffs and legal uncertainties.
During his address, Trump characterized his first year back in office as a significant turnaround, emphasizing improvements in the economy, including reduced inflation and tax cuts. He claimed that inflation has dropped to its lowest level in five years, with mortgage rates also declining significantly.
Despite the positive framing, Lim pointed out that the figures cited by Trump may obscure the volatility experienced in markets, particularly following the announcement of tariffs in April 2025, which led to a sharp decline in stock prices.
The Nasdaq 100 index showed a substantial increase, closing 268 points higher, driven by gains in major tech companies such as Apple, Microsoft, Tesla, and Google. Investors are keenly awaiting Nvidia”s earnings, which Lim describes as a pivotal event for both the equity and cryptocurrency markets.
Trump”s address is perceived as a strategic move for the upcoming midterm elections, focusing on key issues like the cost of living and economic performance, which could influence Republican messaging.
