Bitcoin Ticks Higher as Markets Weigh Trump Address, Broader Risk Sentiment
Bitcoin rose about 3.5% from $64,000 to $66,000 ahead of President Trump’s State of the Union address, influenced largely by market risk sentiment and anticipation of Nvidia’s earnings, rather than the speech itself. The price later settled near $65,500. During his address, Trump described his return to office as a “turnaround for the ages,” claiming economic improvement through tax cuts, lower inflation, and favorable tariffs. He asserted inflation was at five-year lows with a 1.7% drop in the past three months, mortgage rates were falling, and the stock market had reached record highs, with the Dow Jones reportedly crossing 50,000 points—although it did not consistently hold that level. Trump credited tariffs for economic gains, vowing to maintain them despite a recent Supreme Court ruling limiting his tariff authority. Markets broadly rose on Tuesday, including the Nasdaq 100, with investor focus centered on Nvidia’s upcoming earnings, viewed as a major market catalyst. Trump’s address also served to promote Republican priorities ahead of the November elections, emphasizing economic performance and policy commitments.
