Bitcoin Stabilizes Above IDR 78,000 as US Markets Reach New Heights

The cryptocurrency market has demonstrated its ability to withstand global macroeconomic uncertainty. Bitcoin's price held steady at around IDR 78,000, influenced by broader market conditions rather than fundamental weakness in the crypto market.

According to Daniel Reis-Faria, CEO of ZeroStack, bitcoin's constrained movement is more a reflection of global macroeconomic uncertainty than a sign of weakness in the crypto market. He noted that bitcoin's position below IDR 78,000 is influenced by the lack of further policy direction from the Federal Reserve following its decision to hold interest rates.

The S&P 500 index reached a new all-time high, marking gains for five consecutive weeks supported by solid performance in large-cap technology stocks. The Nasdaq 100 also rose to a new high, with Apple shares climbing 3.2% after revenue forecasts exceeded expectations.