Bitcoin (BTC) takes a stand, even as the wider stock market continues to slip down to its customs -related low -mans on Easter.
The top cryptocurrency has risen by 2.3% over the past 24 hours and is now trading for $ 86,800 for the first time since April 3 – the day after the Trump administration revealed its new customs policy. Mainly bent by Bitcoin, the wider market meter Coindesk 20 -Index has increased 1.17% in the same period, with most symbols relatively unchanged.
Crypto-connected warehouses have also been stable, with Coinbase (COIN) and strategy (MSTR) down 1.2% and 1.3%, and large Bitcoin mine workers such as Mara Holdings (Mara), Riot Platforms (RIOT) and Core Scientific (Corz) fall between 2% and 3%.
Crypto Market’s resilience is remarkable considering that the S&P 500, Nasdaq and Dow Jones have gone lower by 3.35%, 3.5%and 3.27%respectively, making their way back to tariff -related low level two weeks ago.
Gold, meanwhile, has risen by 2.9% and now trades for $ 3,400, while DXY (an index measuring the strength of the dollar against a basket with other currencies) reached its lowest level of three years.
“Was today’s tandem rally in Bitcoin and gold simply holiday-driven noise or a meaningful shift against Bitcoin as a safe pet? The latter would mark a significant change in how traditional funding considers Bitcoin,” wrote analysts at Crypto Trading Firm QCP Capital.
“With Europe still on vacation, market confirmation can take a few more sessions. The correlation between bitcoin, gold and shares is one to look closely.”
Meanwhile, Lawrence McDonald, former leader of the US macro strategy at French Investment Bank Société Générale said it may be time to sell gold in favor of Bitcoin.
“Bitcoin has never held this up well with a vix near 30,” he posted X and called Bitcoin’s resilience a game election. “This is a strong sign of a matured Bitcoin market (good news) and colossal intervention in Fiat currency stress, USD.”
The weakness of equities and the US dollar put into perspective with Bitcoin and Gold’s strength may be due to investors’ concerns about Trump, who potentially want to shoot Federal Reserve President Jerome Powell.
Earlier on Monday, US President Donald Trump continued to put pressure on Powell, which he called a “bigger loser” in a true social speech and sent an already shaky stock market even lower.
Trump demanded that Powell and his team lower interest rates “now”, arguing that there is currently “almost no inflation” and that costs too many things fall. Nevertheless, Trump said there is a threat that the economy will slow down unless Fed reduces the rates.
Powell’s period, which started when he was appointed by Trump himself during his first four years in the Oval Office, will end in May 2026, but Trump has tried to find a legal way to fire Powell in advance.
The FED chairman has previously claimed that there is no possible way for the US president to remove him under the law.
