First Mover Asia: Bitcoin’s Recent Gains Have Been Small. What Will Drive Its Price Higher?

Moya noted gains in equity markets that also rose for a third consecutive day with the tech-focused Nasdaq, S&P 500, which has a heavy tech component, and Dow Jones Industrial Average all rising over a percentage point. But he also struck a cautionary note, writing that although the rally for risky assets was a boon for crypto, “traders should not be surprised if stocks “eventually faded.”