Will the Rise in Tech Stocks Reignite the Next Move in Crypto?

With the NASDAQ surging nearly 30 per cent and the S&P 500 climbing over 20 per cent since April, the market’s message is clear: tech is back. But could this explosive rebound be more than just a stock story? Could it be the spark that reignites the next major move in cryptocurrencies?

What’s the correlation between tech stocks and crypto?

Historically, when tech stocks lead, crypto isn’t far behind. Both thrive on innovation, momentum, and investor risk appetite. During the pandemic bull run, this correlation was undeniable. And now—with liquidity returning and confidence rebuilding—digital assets look poised to ride the wave once again.

In fact, Bitcoin is already retesting its all-time highs, and if it can clear major resistance, we could see a breakout toward $135,000. Adding fuel to the fire is a surge in institutional interest, including Tether’s bold purchase of 4,812 BTC at $95,300, and an unexpected spotlight: the Trump family’s new Bitcoin mining venture. Moves like these are pushing crypto further into the mainstream—and attracting serious capital along the way.

Which crypto coin is proving to be a strong contender?

While Bitcoin is grabbing headlines, Ripple (XRP) is quietly shaping up as one of the strongest contenders in this cycle. With the added tailwind of easing SEC legal pressure, XRP has rebounded strongly from its recent correction and is now eyeing a move up to the all-time high of $3.40, which represents over 30 per cent upside potential. A clearance of the all-time high could spark a new wave of optimism and see the price take off significantly.

However, it's important to remember that crypto comes with real risks. These markets are volatile, speculative, and vulnerable to rapid reversals. But for those willing to embrace the chaos, this could be the early stages of a powerful new uptrend.

The question now is: are you watching what tech is telling us because crypto just might be next.

What were the best and worst-performing sectors last week? 

The best-performing sectors included Energy, up 5.77 per cent, followed by Information Technology, up 5.62 per cent and Materials, up 2.55 per cent. The worst-performing sectors included Consumer Staples, down 3.31per cent, followed by Utilities, down 2.53 per cent and Real Estate, down 0.50 per cent. 

The best performing stocks in the ASX top 100 included Life 360, up 27.57 per cent, followed by Mineral Resources, up 25.36 per cent and Block Inc, up 12.42 per cent. The worst-performing stocks included Evolution Mining, down 8.81 per cent, followed by Paladin Energy, down 7.38 per cent, and Newmont Corporation, down 7.30 per cent.

What's next for the Australian stock market?

Another solid week for the ASX, with the All-Ordinaries Index rising over one per cent last week and recovering more than 75 percent of the ground lost during Trump’s tariff saga. Momentum is clearly building — but so is investor caution.

Progress on the U.S.–China trade talks helped lift sentiment, with news of reciprocal tariff cuts and a 90-day pause on new measures. And while the market has enjoyed a remarkable run since mid-April — posting no negative weekly closes — a pullback soon wouldn’t be surprising. Healthy uptrends often pause to let sellers test the strength of demand.

So, if we do see selling emerge, keep an eye on the 8,300 and 8,100 point levels — both could act as key zones for buyer support. However, if buying continues next week, pay close attention to the 8,600-point resistance level, as a breakout here could set the stage for a run toward the all-time high at 8,882.

Sector-wise, Energy was the standout last week, jumping more than 5 per cent, with stocks like Woodside and Santos finally showing signs of life, while tech was not far behind.

And for those who feel they’ve missed the move — don’t worry. Many quality stocks have yet to participate in this rally. The broader bull market remains intact, and the coming weeks could offer a prime window to position for the next run up.

For now, good luck and good trading.

Dale Gillham is the Chief Analyst at Wealth Within and the international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of the bestselling and award-winning book Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in all good bookstores and online.