Down more than 5%, since President Trump’s customs announcement on Wednesday night sent markets throwing themselves, Bitcoin (BTC) is once again disappointing bulls that have proclaimed its shop-of-values ​​or potential as a non-correlated secure port to risk of assets as shares.

Or not.

“This moment feels like a turning point,” said Joel Kruger, LMAX Group Market strategist. “We are seeing market participants increasingly drawn to [BTC’s] Appeal as a stock value asset and a compelling diversification tool in the midst of uncertainty. “

Kruger noted that while Nasdaq and S&P 500 each have tumbled to new 2025-low, Bitcoin is currently holding well over its annual bottom of $ 75,000-what technicians like to call “higher low low.”

But Javier Rodriguez Alarcon, Chief Commercial Officer at Crypto Exchange XBTO, thinks otherwise.

“Despite talking about Bitcoin being able to act as a hedge against dollar-centered volatility, we still see a strong correlation between digital assets and wider risk markets in moments of uncertainty,” said ex-Goldman Sachs director in an email.

Gold still the preferred safe port of jpmorgan

“Bitcoin’s volatility and context of shares raises questions about his ‘digital gold’ tale,” said Nikolao’s Panigirtzoglou and team at JPMorgan yesterday. “We see that gold is continuing to rise as the largest beneficiary of the down -based trade,” they added.

Even with Bitcoin’s recent withdrawal, the price is still over the bank’s estimated average production cost of $ 62,000, a metric that has served as a lower limit in the past, Panigirtzoglou wrote.

Gold today is lower by only 1.25% to $ 3,126 per year. Ounce and within close view of its record height of about $ 3,200.