Bitcoin (BTC) is breaking away from its correlation with the U.S. stock market and solidifying its position as a safe asset like gold. Amid rising global geopolitical tensions, some analysts say Bitcoin’s movements are showing a pattern that is different from traditional financial assets.
Alex Svanevik, co-founder and CEO of cryptocurrency information platform Nansen, recently said on social media that “Bitcoin is starting to move more like gold than NASDAQ,” and that Bitcoin’s price performance over the past two weeks is a sign of its maturity as a global safe-haven asset.
In fact, Bitcoin managed to rebound by nearly 12% over the two weeks until April 22. During this period, the trade war between the US and China intensified again, increasing uncertainty in the global economy, but Bitcoin is being evaluated as turning this geopolitical shock into an opportunity for decoupling.
The US imposed a 125% retaliatory tariff on Chinese imports starting April 9, and China responded by raising its own tariffs from 84% to 125% starting April 12. Bitcoin’s rise, even as traditional financial assets fluctuate, is showing the potential of cryptocurrencies as independent “digital gold.”
As Bitcoin strengthens its function as a haven asset in times of political and economic crisis, investors are reexamining Bitcoin’s role as a core asset in global portfolios beyond a simple speculative asset. This is especially noteworthy in light of Trump’s continued pro-cryptocurrency stance in the US political world, suggesting that uncertainty about future cryptocurrency policies may decrease.
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