The narrative of Bitcoin as a safe-haven asset is gaining momentum as it shows resilience despite a stock market crash. This suggests that the correlation between cryptocurrencies and stocks is weakening. Additionally, it points to a growing preference for crypto assets, especially with the potential for an extended global trade war sparked by Trump's tariffs.
This trend aligns with Bitcoin's reputation as a safe haven during times of extreme market uncertainty, which could attract investors if stocks and gold continue to decline.
A similar pattern occurred during the 2020 COVID-19 pandemic. At the start of the year, Bitcoin was trading around $7,161. The pandemic caused an initial market crash, with Bitcoin falling to a low of $4,900 in March. However, Bitcoin soon decoupled from the stock market, quickly rebounding while stocks remained under pressure due to the ongoing crisis.
