Bitcoin Holds Strong Amidst Market Volatility: Could it Become a Standalone Asset?

Despite a turbulent stock market triggered by President Trump’s new tariffs, Bitcoin defied expectations and demonstrated remarkable resilience. While the S&P 500 and Nasdaq plummeted, Bitcoin rose to new highs, challenging traditional correlations with these markets. This unexpected stability has sparked debate: is Bitcoin forging its own path as a safe haven asset in times of global economic turmoil? Bitcoin’s performance since April 2nd, when Trump announced tariffs on most American imports aimed at reducing trade deficits, provides insights into this phenomenon. 1% gains were recorded for Bitcoin despite the significant losses across traditional financial markets. This unexpected stability was noteworthy, as seen with S&P 500 falling by 10.2%, Nasdaq dropping by 10.4%, while Bitcoin only increased by 1%. Gold remained relatively stable but did not experience the same surge. Experts highlight this resilience, commenting on how it contrasts traditional patterns of Bitcoin’s volatility and its correlation with American stock indices, particularly the Nasdaq, often considered a bellwether for Bitcoin’s movements.