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Bitcoin just broke above its multi-month trading range and a 7-year trendline first established in December 2017. This development electrified holders with new all-time highs of $118k and sparked industry-wide optimism that fueled outsized gains across many top altcoins.
Volatility remains a hallmark of crypto markets, and while weekly gains were muted for traditional stock indexes like the broad-market S&P 500 and tech-heavy Nasdaq 100, they too achieved slightly higher new all-time highs, eliciting a bull post from the official White House X account in the process.
Although escalating U.S. trade war concerns seemingly hampered the stock market’s performance throughout the week, market participants continually shrugged off the headlines as they scrambled to buy every dip.
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