$BTC

Bitcoin is beginning to act as a store of value during periods of 'risk aversion in the US', marking a possible shift in its relationship with traditional assets, according to the New York Digital Investment Group.

BTC felt 'notably different' during the trading week that ended on April 25, said NYDIG's global head of research, Greg Cipolaro, in a market note on April 25.

'We have been observing subtle changes in its behavior over the past few weeks,' he added. 'The decoupling from traditional risk assets is still very nascent and fragile, but for those who watch the cryptocurrency market 24/7, the change is palpable.'

'Bitcoin has acted less like a liquid and leveraged version of leveraged U.S. stock beta and more like the non-sovereign store of value that it is.'

Cipolaro noted that Bitcoin has gained more than 13% since the beginning of April, while U.S. markets like the S&P 500 and the Nasdaq, which have a heavy tech weighting, have declined amid growing global trade tensions due to tariffs from U.S. President Donald Trump.