Bitcoin (BTC) takes a position even though the larger stock market continues to slide towards its hollows linked to the prices on Easter Monday.
The upper cryptocurrency increased by 2.3% in the last 24 hours and now negotiating for $ 86,800 for the first time since April 3, the day after the Trump administration unveiled its new price policy. Mainly supported by Bitcoin, the wider index of the 20 market gauge increased by 1.17% during the same period, most relatively unchanged tokens.
Stocks linked to crypto-liaison have also remained stable, with Coinbase (Coin) and the strategy (MSTR) down 1.2% and 1.3% respectively, and the main bitcoin minors such as Mara Holdings (Mara), anti-riot platforms (riot) and Core Scientific (Corz) which have a subsidence between 2% and 3%.
The resilience of the cryptography market should be noted given that the S&P 500, the NASDAQ and the Dow Jones fell by 3.35%, 3.5% and 3.27% respectively, returning to stockings linked to the rate two weeks ago.
Gold, on the other hand, is up 2.9% and is now negotiated $ 3,400, while the DXY (an index which measures the strength of the dollar compared to a basket of other currencies) has reached its lowest level in three years.
“The tandem rally today in Bitcoin and Gold is simply a vacation noise, or a significant change towards bitcoin as an active in Haven sure? This latter would mark a material change in the way traditional Bitcoin finances” wrote analysts of the Capital Cryptographic Negotiation Society.
“With Europe still on vacation, market confirmation can take some additional sessions. The correlation between bitcoin, gold and actions is to be watched closely.”
Meanwhile, Lawrence McDonald, former chief of the American macro strategy of the French investment bank Société Général, said that it might be time to sell gold in favor of Bitcoin.
“Bitcoin has never resisted a VIX almost 30 years old,” he posted on X, calling Bitcoin resilience to change the situation. “This is a strong sign of a bitcoin market in maturation (good news) and colossal stress on the fiator currency, USD.”
The weakness of the shares and the US dollar, put in perspective with the force of Bitcoin and Gold, can be due to the concerns of investors concerning Trump who potentially seeks to dismiss the president of the Federal Reserve Jerome Powell.
Earlier Monday, US President Donald Trump continued to put Powell pressure on Powell, which he called a “losing major” in a social post, sending an already fragile stock market even lower.
Trump demanded that Powell and his team reduce “now” interest rates, arguing that there is currently “practically no inflation” and that costs for many things are decreasing. However, Trump said there was a threat that the economy slows down unless the Fed breaks the rates.
Powell’s mandate, which started when he was appointed by Trump himself in his first four years at the Oval Office, should end in May 2026, but Trump tried to find a legal means to dismiss Powell beforehand.
The president of the Fed previously argued that there was no possible way for the American president to withdraw it under the law.
