Bitcoin's price climbed sharply to $81,500 following the release of US GDP data that surpassed market expectations. This positive economic indicator bolstered investor confidence in the cryptocurrency sector, according to CoinTelegraph.
At the same time, US stock markets were digesting the impact of Alphabet's Q3 earnings miss, which tempered broader equity market enthusiasm. Despite this, Bitcoin managed to maintain its upward momentum, highlighting its growing appeal as an alternative asset.
For Japanese investors, this move underscores the increasing influence of US macroeconomic data and tech earnings on global crypto markets, suggesting a need to monitor international developments closely when managing FX and equity portfolios.