Bitcoin’s Image as a Safe Haven Diminishes

Recent developments indicate that Bitcoin’s role as a safe haven asset is increasingly being questioned. As tensions escalate with new U.S. trade tariffs impacting relations with Canada and Mexico, many traders are redirecting their investments toward more stable commodities.

Data shows that the BTC/USD pair suffered a significant decline of $10,000 within just 24 hours, as reported by Cointelegraph Markets Pro and TradingView. This downturn coincided with a broader market sell-off, affecting not only cryptocurrencies but also equities.

The Kobeissi Letter notes that “the real driver here is the GLOBAL move towards the risk-off trade.” As fears mount regarding trade wars and economic instability, Bitcoin’s failure to hold its support levels has led to a shift in perception about its reliability as a safe have