Market Divergence
While stock markets plunged, Bitcoin went in the opposite direction and once again attracted attention by holding steady above $82, despite the negative impact of new tariffs announced by Donald Trump. This divergence is starting to indicate that Bitcoin may be breaking its historical correlation with the S&P 500, suggesting a new, more independent price action.
Stock Market Decline
Last Friday, the main stock indexes in the United States ended the week with a sharp decline. The S&P 500 and Nasdaq fell almost 6%, and the Dow Jones suffered its worst daily loss since 2020, with a drop of 5.5%. In contrast, Bitcoin only had a brief pullback to $81,500, but soon regained its momentum and was trading at $84,600.
Cryptocurrency Resilience
Even with selling pressure in the first hours of trading, the cryptocurrency demonstrated resilience and ended the day at around US$ 83,700, with a slight decline in the last 24 hours, according to data from TradingView.
Market Analysis
According to Adam Back, CEO of Blockstream, the previous apparent correlation between Bitcoin and traditional markets may have been artificial. “Perhaps market makers [were] using the scarcity of fiat liquidity in the Bitcoin market to autocorrelate Bitcoin, noticeable at the [opening] of the US market,” he analyzed.
Gold Cycles
For the Macroscope analyst, the current movement is reminiscent of gold cycles. If Bitcoin surpasses the $100 mark, he believes that a reallocation of capital from gold to cryptocurrency could occur, reinforcing its historical superior performance compared to other traditional assets. “In previous cycles, the recovery from the recent high started a new period of superior performance,” he explained.
Positive Outlook on Tariffs
BitMEX co-founder Arthur Hayes got straight to the point: “$BTC holders need to learn to love tariffs.” He suggests that tariffs could actually benefit Bitcoin by driving expansionary policies that inject liquidity into the markets.
Bitcoin as Protection
Michael Saylor also reinforced the thesis, stating that “Bitcoin offers resilience in a world full of hidden risks,” amid inflation, taxes and regulatory instability. For him, the digital asset consolidates itself as a protection against monetary dilution.