Bitcoin breaks correlation with S&P 500 after new tariffs and could rise again
- Bitcoin breaks correlation with traditional stocks
- Fees drive Bitcoin appreciation
- Bitcoin’s rise could attract capital from gold
While stock markets plunged, Bitcoin went in the opposite direction and once again attracted attention by holding steady above $82, despite the negative impact of new tariffs announced by Donald Trump. This divergence is starting to indicate that Bitcoin may be breaking its historical correlation with the SP 500, suggesting a new, more independent price action.
Last Friday, the main stock indexes in the United States ended the week with a sharp decline. The SP 500 and Nasdaq fell almost 6%, and the Dow Jones suffered its worst daily loss since 2020, with a drop of 5,5%. In contrast, Bitcoin only had a brief pullback to $81.500, but soon regained its momentum and was trading at $84.600.
Even with selling pressure in the first hours of trading, the cryptocurrency demonstrated resilience and ended the day at around US$ 83.700, with a slight decline in the last 24 hours, according to data from TradingView.
According to Adam Back, CEO of Blockstream, the previous apparent correlation between Bitcoin and traditional markets may have been artificial. “Perhaps market makers [were] using the scarcity of fiat liquidity in the Bitcoin market to autocorrelate Bitcoin, noticeable at the [opening] of the US market,” he analyzed.
For the Macroscope analyst, the current movement is reminiscent of gold cycles. If Bitcoin surpasses the $100 mark, he believes that a reallocation of capital from gold to cryptocurrency could occur, reinforcing its historical superior performance compared to other traditional assets. “In previous cycles, the recovery from the recent high started a new period of superior performance,” he explained.
BitMEX co-founder Arthur Hayes got straight to the point: “$BTC holders need to learn to love tariffs.” He suggests that tariffs could actually benefit Bitcoin by driving expansionary policies that inject liquidity into the markets.
Michael Saylor also reinforced the thesis, stating that “Bitcoin offers resilience in a world full of hidden risks”, amid inflation, taxes and regulatory instability. For him, the digital asset consolidates itself as a protection against monetary dilution.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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