As traditional markets nosedived, Bitcoin held its ground — reaffirming its status as a potential safe-haven asset amid global financial shocks. The world’s leading cryptocurrency dipped just 3.7% during a record $5 trillion stock market wipeout, signalling a possible shift in how investors perceive Bitcoin during macroeconomic turmoil.
Trump’s Tariffs Trigger Historic Market Rout
The sharp decline followed former President Donald Trump’s April 2 announcement of reciprocal import tariffs, aimed at reducing the U.S. trade deficit and promoting domestic manufacturing. The announcement triggered panic across global equity markets, leading to a record $5 trillion loss in S&P 500 market capitalisation over two days — a fall even greater than the COVID-19 crash of March 2020.
Despite this, Bitcoin remained relatively stable, trading at around $83,600 as of April 5, according to TradingView. Analysts point to this as a sign of Bitcoin’s growing maturity and evolving market dynamics.
Bitcoin Begins to Break Away from Risk Assets
Historically, Bitcoin has closely mirrored risk assets during economic shocks. However, this time the divergence was stark. According to Marcin Kazmierczak, COO of blockchain oracle RedStone, Bitcoin’s steadiness amid the chaos may reflect an emerging shift in investor perception.
“Bitcoin’s fixed supply contrasts sharply with fiat currencies that may face inflationary pressures under tariff-driven policies,” he explained, hinting that Bitcoin could now be seen as a hedge against inflation and instability, rather than a speculative bet.
Support Levels Hold Amid Forced Selling
Despite broader market panic, Bitcoin’s technicals remained strong. Nexo analyst Iliya Kalchev noted that Bitcoin held above its key $82,000 support level, despite heavy selling pressure across markets. “This shows that structural demand for Bitcoin remains intact,” he said, highlighting continued investor confidence even in high-volatility conditions.
While Bitcoin did initially drop alongside stocks, the smaller correction indicates reduced correlation with traditional markets, which could signal a maturing asset profile and long-term institutional confidence.
Bitcoin’s ‘Digital Gold’ Narrative Gains Ground
The concept of Bitcoin as “digital gold” gained traction during the sell-off. James Wo, CEO of venture firm DFG, acknowledged that while Bitcoin is still influenced by macroeconomic factors — especially due to rising institutional exposure through ETFs — its hard-capped supply and decentralised structure continue to reinforce its store-of-value proposition.
Looking ahead, optimism remains strong. Jamie Coutts, chief crypto analyst at Real Vision, forecasts that Bitcoin could reach $132,000 by the end of 2025, driven by expanding money supply and its perceived safe-haven status.
