Bitcoin acting ‘less Nasdaq,’ more like gold, despite 60% recession odds
Bitcoin decouples from stocks and gains safe-haven appeal amid the US-China trade war and rising US recession odds, says Nansen CEO.
Bitcoin is decoupling from the US stock market and starting to trade more like precious metals, in another signal of Bitcoin’s growing role as a safe-haven asset against global economic disruption.
Bitcoin’s (BTC) price is showcasing its growing maturity as a global asset, becoming “less Nasdaq — more gold” over the past two weeks, according to Alex Svanevik, co-founder and CEO of the Nansen crypto intelligence platform.
Bitcoin staged a 12% recovery in the two weeks leading up to April 22, despite ongoing tariff escalation between the world’s largest trading nations. The US increased reciprocal tariffs on China to 125% as of April 9, while China raised import tariffs from 84% to 125% effective April 12.
