Arthur Hayes, co-founder of BitMEX, recently suggested that Bitcoin ($BTC ) could decouple from its historical correlation with the Nasdaq Composite Index, particularly in light of recent U.S. tariff policies. He expressed enthusiasm for these tariffs, stating they would address "global imbalances" and that the resulting economic adjustments, potentially mitigated by increased money printing, would be beneficial for Bitcoin.
This perspective follows a tumultuous period in the U.S. stock market, where major indices experienced significant declines:
Dow Jones Industrial Average: Dropped over 2,200 points (5.5%), marking its largest one-day percentage decline since June 2020.
S&P 500: Fell by 6%.
Nasdaq Composite: Decreased by 5.8%, entering bear market territory.
In contrast, Bitcoin demonstrated resilience during this period, experiencing a modest rise of 0.9% to approximately $83,961. This divergence has prompted discussions about the Bitcoin potential role as a safe-haven asset, independent of traditional equity markets.
Analysts attribute Bitcoin relative stability to its decentralized nature and limited exposure to trade-related economic disruptions. While some view this as an indication of Bitcoin evolving role as a hedge against market volatility, others caution that it's premature to conclude a complete decoupling from traditional equities.
Hayes' comments underscore a broader sentiment among crypto enthusiasts that Bitcoin could serve as a reliable indicator of fiat liquidity and a safeguard against economic uncertainties exacerbated by policies like tariffs.
