Altcoins outperformed Bitcoin after a strong U.S. jobs report alleviated recession fears. Tokens like Bittensor’s TAO surged 14%, and Render’s RNDR climbed 8% in just 24 hours. Grayscale’s increase of TAO’s weight in its fund further boosted market momentum.
Bitcoin also saw gains, reaching $62,300, up 2.2% during U.S. trading hours. The CoinDesk 20 Index rose 4.2%, highlighting broader market recovery led by altcoins. The positive movement extended to stocks, with the S&P 500 and Nasdaq closing higher.
Analysts from 21Shares and 10x Research expect a continued recovery, with both stocks and crypto poised for growth as long as the U.S. economy remains strong.
