Bitcoin rose Thursday as the world’s largest cryptocurrency looked to fight back from its recent slump despite the stock market moving lower. The price of Bitcoin climbed 1.1% to $97,187, according to data from cryptocurrency exchange Kraken. Bitcoin has fallen 7% over the past month but remains 86% up over the past year.
But the digital asset, perhaps best known for its volatility over the years, has been unusually subdued in recent weeks—a sign that it’s closely following global developments, and the stock market.
The S&P 500 and Bitcoin are both up by around 4% so far in 2025 Bitcoin has fluctuated between $94,000 and $100,000 for the past two weeks, “exhibiting reduced volatility compared to its historical average,” Fineqia International analyst Matteo Greco said Wednesday.
“This reflects a phase of market consolidation and uncertainty, influenced by macroeconomic concerns and speculation over the Federal Reserve’s and other major central banks’ future interest rate decisions,” he added.
Cryptocurrencies surged in the aftermath of President Donald Trump’s election victory in November, which opened the door to an easing of the regulatory burden on the sector.
But the rally has fizzled out and investors now seem to be closely following global events. While that may mean reduced volatility for now, it also means the direction of Bitcoin may be even harder to predict in the weeks ahead as geopolitical uncertainty mounts.
