PANews March 29 news, according to Samaa, Exness financial market strategist Inky Cho stated that the recent decline in the crypto assets market may be related to the panic selling triggered by the transfer of BTC from Mt. Gox for debt repayment. At the same time, Trump's remarks about the impending economic recession have impacted the stock and crypto assets markets.
Currently, the correlation between Bitcoin and the Nasdaq remains around 40%, a decrease from the previous peak of 72%. However, Bitcoin is becoming polarized from ETH and other altcoins, with Bitcoin acting more as a hedge against economic uncertainty and current U.S. tariffs, while altcoins, including Ethereum, still remain linked to the technology sector and the Nasdaq market dominated by tech stocks. Therefore, in the long run, Bitcoin's role as a tariff hedge may strengthen, especially when tariffs trigger economic instability.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Viewpoint: The role of Bitcoin as a hedging tool against U.S. tariffs may strengthen, and the polarization in the crypto market may continue.
PANews March 29 news, according to Samaa, Exness financial market strategist Inky Cho stated that the recent decline in the crypto assets market may be related to the panic selling triggered by the transfer of BTC from Mt. Gox for debt repayment. At the same time, Trump's remarks about the impending economic recession have impacted the stock and crypto assets markets. Currently, the correlation between Bitcoin and the Nasdaq remains around 40%, a decrease from the previous peak of 72%. However, Bitcoin is becoming polarized from ETH and other altcoins, with Bitcoin acting more as a hedge against economic uncertainty and current U.S. tariffs, while altcoins, including Ethereum, still remain linked to the technology sector and the Nasdaq market dominated by tech stocks. Therefore, in the long run, Bitcoin's role as a tariff hedge may strengthen, especially when tariffs trigger economic instability.