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While Wall Street reels from its steepest decline since the COVID-19 crash, Bitcoin continues to display remarkable resilience. As the Nasdaq Index plunged over 2,000 points—an 11.4% drop—over the past two trading days, Bitcoin remained firm above $83,000, reinforcing its image as a potential hedge against traditional financial markets.
Returns Since Liberation Day:
— Ryan Rasmussen (@RasterlyRock) April 4, 2025
🟢 BTC: +2.2%
🔴 Gold: -2.9%
🔴 SPY: -10.5%
🔴 QQQ: -11.2%
Magnificent Seven:
🔴 MSFT: -5.8%
🔴 GOOGL: -7.3%
🔴 AMZN: -12.8%
🔴 META: -13.6%
🔴 NVDA: -14.6%
🔴 TSLA: -15.3%
🔴 AAPL: -15.9%
Since the onset of Trump’s new reciprocal tariffs on April 2—Liberation Day—the broader U.S. stock market has been in free fall. However, Bitcoin has defied the trend, outperforming even traditional safe havens like gold and silver. As of press time, BTC trades at $83,669, up 0.6% on the day with daily volumes surging 42% to $42.5 billion. The world’s largest cryptocurrency briefly faced rejection at $89,000 but continues to hold strong above $82,000 support.
This unshaken performance is fueling a growing narrative: is Bitcoin finally decoupling from equities?
Blockstream CEO Adam Back believes so. In a recent post on X, he suggested Bitcoin’s historic correlation with stocks may have been artificially maintained by market makers during U.S. trading hours. In contrast, Arca CIO Jeff Dorman argues Bitcoin isn’t a market hedge, but rather a hedge against systemic trust failures in governments and banking institutions. “This selloff is due to a loss of trust in global gov’t,” Dorman said.
Everyone is talking about $BTC strength in the face of a 2-day, 10%+ stock sell-off, even as gold falls
— Jeff Dorman (@jdorman81) April 5, 2025
But this has nothing to do with stocks
Bitcoin is NOT, & never has been, a market hedge. It is a gov't/bank hedge. This selloff is due to a loss of trust in global gov't. pic.twitter.com/hi9g4vIseh
Despite optimism, not all analysts are bullish in the short term. Crypto expert Ali Martinez highlighted a dip in exchange-related activity, hinting at waning investor sentiment. Meanwhile, Kyledoops warned of a potential trap: “Someone is definitely bidding BTC here. It’s either a mega trap or gearing up for a major rally.”
As investors digest this divergence between crypto and equities, Bitcoin appears poised for continued consolidation above $82,000. If this strength holds, BTC may be on the verge of reclaiming $90,000—regardless of Wall Street’s woes.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: XRP Surges 490% in Retail Activity as Bitcoin Lags Behind Institutional Calm
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
