Weak Economy and Geopolitical Strains Fail to Shake Bitcoin’s Stability

Bitcoin Brushes Off Weak U.S. Manufacturing, Eyes Stay on South Asia Tensions

Bitcoin remained largely unfazed on Tuesday, even as U.S. economic indicators flashed fresh warning signs and geopolitical risks escalated in South Asia.

The Dallas Fed Manufacturing Index dropped sharply to -35.8 in April, down from -16.3 the previous month and well below consensus expectations of -14.1. This marks the lowest reading since May 2020, when COVID-19 lockdowns triggered a widespread economic shutdown. While not usually a major market mover, the severity of the miss drew attention. Odd Lots co-host Joe Weisenthal noted the survey was riddled with concerns about tariffs and unclear policy direction, calling it “pretty horrible.”

Despite the gloomy backdrop, Bitcoin (BTC) showed relative stability. After a minor dip early in U.S. trading, BTC was last seen just under $95,000, gaining 0.5% over the past 24 hours. The CoinDesk 20 Index of major cryptocurrencies was flat on the day, reflecting a general pause across digital assets.

Crypto-related stocks, which had surged the previous week, gave up some gains. Coinbase (COIN), MicroStrategy (MSTR), and several mining firms saw modest declines. Meanwhile, Janover (JNVR) and DeFi Technologies (DFTF) stood out, rising 24% and 6.5%, respectively, despite a 3% pullback in Solana (SOL), a token both companies have been accumulating.

In broader markets, gold rose nearly 1% as investors sought safety, while the U.S. dollar index dropped 0.6%. Equities staged a late comeback, with the S&P 500 and Nasdaq both closing slightly positive after early losses of more than 1%.

On the geopolitical front, tensions between India and Pakistan added a layer of uncertainty. Pakistani Defense Minister Khawaja Muhammad Asif claimed that a military strike from India was imminent. The warning follows a deadly terrorist attack in Pahalgam, Kashmir, that killed 26 people last week, prompting renewed cross-border fire between the two nuclear-armed neighbors.