Bitcoin Ticks Greater as Markets Weigh Trump Handle, Broader Threat Sentiment – Decrypt

Bitcoin noticed a small rise forward of President Donald Trump’s State of the Union handle on Tuesday, as markets reacted to the administration’s financial messaging and broader risk-on sentiment forward of Nvidia earnings.

The main crypto climbed greater than $2,000, shifting from roughly $64,000 to $66,000 simply earlier than Trump’s speech at 9 pm ET, based on CoinGecko knowledge. The asset has since slipped again to $65,500, up about 3.5% on the day.

Trump opened by framing his first yr again in workplace as a “turnaround for the ages,” saying the nation is “larger, higher, richer, and stronger” and pledging it is going to “by no means return” to the earlier administration’s insurance policies whereas highlighting tax cuts, tariff coverage, and decreased inflation.

The uptick exams whether or not Bitcoin’s correlation with conventional threat property stays intact, as Asian shares additionally gained on optimism forward of Nvidia’s quarterly earnings due Wednesday.

Nonetheless, Bitcoin’s surge was not a direct results of Trump’s speech, however moderately “a mix of risk-on positioning forward of Nvidia earnings and a aid bounce off the tariff and Supreme Court docket chaos from the prior week,” Derek Lim, head of analysis at crypto market-making agency Caladan, instructed Decrypt.  

“Each of those had way more direct market relevance than something mentioned on the podium,” he mentioned.

Trump touted financial achievements in the course of the handle, stating that “inflation is plummeting” and “incomes are rising quick.” He claimed his administration has pushed core inflation all the way down to its lowest degree in 5 years, with a 1.7% decline during the last three months. 

“Mortgage charges are the bottom in 4 years and falling quick,” Trump added, noting the annual value of a brand new mortgage is down practically $5,000 from a yr in the past.

The President additionally pointed to inventory market efficiency, stating that the market has set “53 file highs because the election” and that the Dow Jones Industrial Common broke 50,000 “4 years forward of schedule.”

Lim cautioned that the 53 file highs determine “obscures what actually occurred in between.” 

When Trump introduced his tariff regime in April 2025, the Dow briefly tumbled under 37,000—roughly 18% off its peak. He additionally famous that the Dow 50,000 milestone “positively did not maintain,” with the index retreating under that degree by February 16 and buying and selling round 49,174 on the evening of the speech.

Trump credited tariffs as a key driver, saying they introduced in “tons of of billions of {dollars}” and enabled favorable financial and nationwide safety offers.

The tariff remarks come after a latest Supreme Court docket ruling restricted Trump’s authority to impose broad tariffs, a call the President referred to as “a really unlucky ruling” throughout his handle. 

Regardless of the setback, Trump reaffirmed his dedication to the coverage, stating that “these highly effective, country-saving, peace-protecting tariffs will stay in place underneath totally accepted and examined different authorized statutes, resulting in an answer that might be stronger than earlier than.”

The Nasdaq 100 closed Tuesday 268 factors increased, boosted by positive factors in Apple, Microsoft, Tesla, and Google, as traders await Nvidia’s extremely anticipated earnings. 

Lim believes the earnings name is “the only most essential catalyst within the window” with the fairness and crypto markets “positioning round this occasion.”

Trump’s Tuesday handle, in the meantime, is extensively seen as a midterm messaging play forward of November elections. Republicans need to use it to outline their agenda on value of residing, border safety, and financial efficiency.