More than 5% since President Trump’s pricing announcement sent the plunging markets on Wednesday evening, Bitcoin (BTC) is once again disappointing bulls that have praised its reserve properties or potential as an unrealed refuge to risk assets such as actions.
Or not.
“This moment looks like a turning point,” said Joel Kruger, a strategist for the LMAX group market. “We see market players increasingly attracted by [BTC’s] The call as a reserve actor and a convincing diversification tool in uncertainty. “”
Kruger noted that even if the Nasdaq and the S&P 500 have each climbed to new hollows of 2025, Bitcoin for the moment stands far above its bottom of $ 75,000 for the start of the year – which technicians like to call “higher lows”.
But Javier Rodriguez Alarcon, commercial director of Crypto Exchange XBTO, believes the opposite.
“Despite the conversation that Bitcoin could act as coverage against volatility centered on the dollar, in practice, we still see a strong correlation between digital assets and wider risk markets in moments of uncertainty,” said ex-Goldman Sachs Executive in an email.
Gold is always the favorite refuge in JPMorgan
“Volatility and Bitcoin correlation with actions raise questions about its” Digital or “story,” said Nikolaos Panigirtzoglou and his JPMorgan team yesterday. “We see gold continue to increase as the main beneficiary of the exam of the exam,” they added.
Even with the recent decline in Bitcoin, the price is always higher than the estimated average cost of the production of $ 62,000 from the bank, a metric which acted as a lower limit in the past, wrote Panigirtzoglou.
The gold today is less than only 1.25% to $ 3,126 per ounce and at the sight of its record level of around $ 3,200.
