Tariff Escalation and Crypto Markets: Impact Analysis

Binance Research said that Bitcoin shows "signs of resilience" even as stocks and the broader cryptocurrency market decline amid a sell-off in the global market after U.S. President Donald Trump imposed sweeping tariffs on U.S. imports last week.

Binance, the world's largest cryptocurrency exchange, stated in a research report released on April 7: "Even in the wake of recent announcements about tariffs, Bitcoin has shown some signs of resilience, remaining stable or recovering on days when traditional risk assets stumbled."

Binance noted that Bitcoin's correlation with gold has been low, averaging around 0.12 over the past ninety days.

Currently, gold appears to be the preferred safe haven among fund managers, according to Binance.

It cited a survey where 58% of participants said they prefer to hold gold during the trade war compared to just 3% for Bitcoin.

Binance stated: "Market participants will closely monitor whether Bitcoin can maintain its appeal as a non-sovereign, unregulated asset in a protectionist global economy."

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