Despite the significant downturn in the US stock market, Bitcoin prices soared to new highs, demonstrating a surprising decoupling from traditional market trends. This unexpected resilience is attributed to several factors, including increasing investor confidence in Bitcoin as an alternative asset, growing institutional interest in ETFs, and Bitcoin’s historical performance of rebounding quickly during economic downturns. 24-hour price increases for Bitcoin reached $83,900, surpassing the Dow Jones’ drop of over 2,200 points. Analysts like James Seyffart expressed surprise at Bitcoin’s stability amidst market selloff and suggest a shift in perception where Bitcoin is increasingly seen as a hedge against global economic uncertainty. The stock market’s plunge saw a 5% drop for the S&P 500 and Nasdaq, highlighting the divergence between traditional markets and Bitcoin’s performance. Experts believe this resilience may be due to recent regulatory developments like Jerome Powell’s inflation warnings, which have created volatility but haven’t deterred Bitcoin’s appeal. The current market downturn has further fueled this shift in perception with Bitcoin being seen as a safe-haven asset, ready to rebound as it did during the 2020 market downturn.