Bitcoin Reclaims $78,000 as Tech Correlation Drives Crypto Rally

Bitcoin (BTC) climbed 2.5% to settle at $78,292.38, marking a 12% gain for the month and maintaining its position above the $78,000 threshold for the first time since February. The rally coincided with a broader surge in technology stocks, highlighting a persistent correlation between megacap tech and digital assets. This upward momentum helped the total cryptocurrency market capitalization expand by 2.2% to $2.68 trillion. Institutional appetite showed signs of recovery as spot Bitcoin ETFs recorded $4.5 million in net inflows, breaking a three-day streak of outflows. Other major assets followed suit, with Ethereum (ETH) rising 1.6% to $2,296.05 and Solana (SOL) increasing 1.0% to $83.72. In the corporate space, Circle Internet Group saw a significant jump of 9.71% to $99.70 ahead of its Q1 earnings report scheduled for May 11. Simultaneously, data from CoinGecko indicates a surge in real-world asset tokenization, with the value of tokenized assets hitting $19.3 billion in Q1 2026, more than triple the levels seen in 2025. This growth is viewed as a long-term value driver for programmable blockchains. Despite the gains, the market remains caught between bullish tech sentiment and bearish pressures. Unease over inflation and elevated oil prices continues to weigh on risk sentiment and temper expectations for imminent Federal Reserve rate cuts.