The S&P 500 plummeted over 6% in the last five days, marking a turbulent week for the stock market. In contrast, Bitcoin rose more than 1% during the same period, performing better than the broader market. The Nasdaq experienced one of its largest drops in 25 years on Thursday. Despite not reaching the highs above 100,000 seen earlier this year, Bitcoin maintained relative stability. In other developments, Circle, issuer of the second largest stablecoin USDC, filed for an IPO. An important U.S. House committee advanced a stablecoin bill with significant Democrat support. Fidelity Investments announced plans to offer an IRA with direct access to crypto. Surveys indicate that advisers are increasingly promoting crypto products to clients. Corporate buyers like Strategy, Metaplanet, Mara, and Tether continued to accumulate Bitcoin. Ethereum developers scheduled their next upgrade, Pectra, for May 7. Ripple reported high demand for its new stablecoin RLUSD.
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