On Tuesday morning, I noticed a strong upswing in the crypto market. Bitcoin is trading near $77,650, although there hasn’t been much movement in the past 24 hours. But the interesting part is that the stock market is also offering support—both the Nasdaq and S&P 500 are seeing slight gains, even though futures were quite negative in the morning.

Ether is up 0.9%, Solana is up 1.33%, and XRP has also risen by 0.41%. Stocks of crypto-related companies are showing an even bigger rally—Circle, MicroStrategy, and Galaxy Digital are all posting solid gains. This coin-stock sector always shows more volatility than cryptocurrencies.

On the macro level, the Manufacturing PMI has come in at 52.4, indicating expansion. The Chicago Business Index has also reached 57.7, which is well above expectations. These signs suggest that there’s still some strength left in the economy, even as tensions in the Middle East persist and oil prices remain elevated. The likelihood of rate cuts before the Fed’s March meeting appears to be weak.