• Bitcoin climbed above $76,000 as strong earnings from major tech firms lifted risk sentiment across crypto and equities.
• Gains in equities, led by Alphabet, Caterpillar and Amazon, reinforced Bitcoin’s correlation with tech-heavy indices like the Nasdaq.
• Analysts warn that geopolitical tensions and persistent inflation risks could continue to weigh on equities and Bitcoin.

Bitcoin (BTC) climbed back above $76,000 on Thursday following a rebound in risk assets as stronger-than-expected earnings from Big Tech firms boosted investor sentiment.

The world’s largest cryptocurrency recovered from earlier declines as optimism from Wall Street spilled into digital asset markets. Altcoins also edged higher, with the privacy and meme sectors seeing decent gains on the day.

Bitcoin resumes correlation with equities following positive earnings among Big Tech

The move followed a standout first-quarter earnings report from Alphabet, the parent company of Google, which beat expectations on both revenue and profit.

The growth was driven in part by its cloud division, where demand for AI-related services continued to accelerate. Other major technology firms, including Microsoft, Amazon and Caterpillar, reported earnings that largely exceeded expectations, reinforcing confidence in the sector. As a result, the S&P 500 rose 73 points, while the Nasdaq and other equity indexes also rose.

Bitcoin’s advance highlights its persistent correlation with tech equities. BTC has increasingly traded in tandem with the Nasdaq and other tech-heavy indices, with correlations rising significantly at various points in 2027.

That relationship had come into question earlier this year, when Bitcoin showed relative resilience during the initial phase of the US-Iran conflict and accompanying volatility in oil markets. At the time, some analysts argued the asset was beginning to decouple from traditional risk assets.

Despite the rebound, broader macro uncertainties could weigh on market performance. Ongoing geopolitical tensions between the US and Iran, alongside debates over rising inflation and interest rates, could further weigh on investor sentiment.

The recent dissents among FOMC committee members amid the Federal Reserve’s (Fed) decision to hold rates steady underscore deeper uncertainty beneath the surface, according to Bitunix analysts.

“This signals that the Fed’s biggest problem is no longer when to cut rates, but that internal consensus on the nature of inflation itself is beginning to fracture,” Bitunix analysts wrote in a statement shared with FXStreet.

The analysts argued that markets are increasingly confronting the possibility that “energy prices and geopolitics may be making a return to 2% inflation materially harder than previously assumed,” raising the risk of a prolonged higher-rate environment.

“That explains why Treasury yields remained elevated after the meeting, rate-cut expectations failed to materially expand, and why both tech equities and BTC — despite near-term resilience — continue to trade within high-volatility structures,” Bitunix analysts noted. “Markets are beginning to recognize that the greater long-term risk may not be recession itself, but a regime where inflation remains sticky while growth simultaneously slows — a stagflationary pricing framework that challenges both traditional policy tools and asset valuations.”

Bitcoin is trading at $76,400 at the time of writing, up more than 1% over the past 24 hours.