{"id":126646,"date":"2025-04-07T20:20:23","date_gmt":"2025-04-07T20:20:23","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126646"},"modified":"2025-04-07T20:20:23","modified_gmt":"2025-04-07T20:20:23","slug":"bitcoin-showing-signs-of-resilience-beats-stocks-gold-as-equities-fold-binance","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126646","title":{"rendered":"Bitcoin, showing 'signs of resilience', beats stocks, gold as equities fold \u2014 Binance"},"content":{"rendered":"

Source: Cointelegraph.com NewsBitcoin (BTC) is showing \u201csigns of resilience\u201d even as stocks and the broader cryptocurrency market plunge amid a global market sell-off after US President Donald Trump imposed sweeping tariffs on US imports last week, Binance Research said.\u00a0
\nAs of mid-day trading on April 7, Bitcoin is up almost 1% to nearly $79,000. Meanwhile, the S&P 500 \u2014 an index of large US stocks \u2014 is essentially flat and front-month gold futures are down around 1.5%, according to Google Finance.
\n\u201cEven in the wake of recent tariff announcements, BTC has shown some signs of resilience, holding steady or rebounding on days when traditional risk assets faltered,\u201d Binance, the world\u2019s largest cryptocurrency exchange, said in an April 7 research report.\u00a0\u00a0
\nNotably, Bitcoin\u2019s supply of long-term holders continues to rise, \u201creflecting conviction and limited capitulation during recent volatility,\u201d Binance said.
\nOn April 2, Trump said he was putting tariffs of at least 10% on most imports into the United States and adding additional “reciprocal” tariffs on goods from 57 countries.\u00a0
\nSince then, major US stock indices \u2014 including the S&P 500 and Nasdaq \u2014 dropped by more than 10% as traders braced for a looming trade war.
\nBitcoin is still down more than stocks \u2014 about 12% \u2014 but has held up better than crypto\u2019s overall market capitalization, which is down roughly 25% since April 2.
\n\u201cNow, with reciprocal tariffs emerging and global markets adjusting to the prospect of prolonged trade fragmentation, much could hinge on BTC\u2019s ability to reassert its safe haven narrative,\u201d the report said.\u00a0
\nSource: Binance ResearchRelated: Crypto stocks down, IPOs punted amid tariff tumult
\nChanging asset correlations
\nBitcoin\u2019s correlation with gold \u2014 historically considered the ultimate safe haven asset during times of extreme macroeconomic uncertainty \u2014 has been low, averaging around 0.12 over the past 90 days, Binance said.\u00a0
\nThe cryptocurrency has a closer correlation with equities of 0.32. However, \u201cdespite short-term swings, BTC may still have room to reassert a more independent macro identity,\u201d according to the exchange.\u00a0
\n\u201cThe key question is whether BTC can return to its long-term pattern of low correlation with equities,\u201d noted the report.\u00a0
\nSource: Binance ResearchFor now, gold appears to be the preferred safe haven asset among fund managers, Binance said.\u00a0
\nIt cited a survey in which 58% of respondents said they would prefer to hold gold during a trade war versus only 3% for Bitcoin.\u00a0
\n\u201cMarket participants will be watching closely to see if BTC is able to retain its appeal as a non-sovereign, permissionless asset in a protectionist global economy,\u201d Binance said.
\nMagazine:\u00a0New \u2018MemeStrategy\u2019 Bitcoin firm by 9GAG, jailed CEO\u2019s $3.5M bonus: Asia ExpressRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsBitcoin (BTC) is showing \u201csigns of resilience\u201d even as stocks and the broader cryptocurrency market plunge amid a global market sell-off after US President Donald Trump imposed sweeping… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126646"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126646"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126646\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126646"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}