Bitcoin acts like āstore of value that it isā amid Trump policy chaos: NYDIG
Bitcoinās decoupling from traditional risk assets is āstill very early and fragile,ā but the shift is āpalpable,ā says NYDIGās Greg Cipolaro.
Bitcoin is starting to act as a store of value during times of āUS-risk-offā sentiment, marking a potential shift in its relationship with traditional assets, according to the New York Digital Investment Group.
BitcoinĀ BTC ^ $94,654Ā felt ānoticeably differentā over the trading week ended April 25, NYDIGās global head of research Greg CipolaroĀ saidĀ in an April 25 marketĀ note.Ā
āWeāve been observing subtle shifts in its behavior over the past few weeks,ā he added. āThe decoupling from traditional risk assets is still very early and fragile, but for those watching crypto markets 24/7, the shift is palpable.ā
He added that the US dollar and long-term US Treasurys have also underperformed since the election and Trumpās April 2 āLiberation Dayā tariff announcements, which lumped every country with various rates, the minimum being 10%.
Gold and currencies such as the Swiss franc have been consistent winners as safe havens, Cipolaro said, noting that Bitcoin is emerging as a non-sovereign store of value.
AmidĀ surging volatilityĀ in equities, measured with the VIX index, foreign exchange rates (CVIX index), and interest rates and bonds (MOVE index), investors have been on the hunt for theseĀ safe haven assets.Ā
Cipolaro said investors are also seeking alternatives to US hegemony, whether that is stocks, bonds, forex, or commodities.Ā
Source:Ā NYDIG, COINTELEGRAPH
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