The US stock market asked by President Donald Trump’s global customs announcement on Wednesday sent the Nasdaq Composite Index to one of its greatest woman since the beginning of the century.
Technical-heavy index lost 5.5% on Thursday just outside the 20 worst single-day features since 2000, according to investing.com. Most of the largest draws occurred during the DOT-COM crash 2000-2001 and the global financial crisis in 2008. Other capital measures also suffered, as the S&P 500 index drops almost 5%.
In contrast, the Bitcoin (BTC) price, which is typically correlated with US shares over short time frames, bowed the trend. The largest cryptocurrency that tumbled immediately after the message, while the stock markets were closed, increased 0.7% the next day, with momentum transporting in Friday, according to Glassnode data.
Bitcoin now trades over $ 84,000 compared to about $ 87,000 before Trump started talking. Nasdaq futures, meanwhile, are lower prior to the US job report, which will be subsequently on the day.
Bitcoin made his 2025 low in mid -March of about $ 76,000, while Nasdaq hit a low Thursday. Year to date, Bitcoin is better than Nasdaq and loses 10% against the 11% index.
Analyst Caleb Franzen highlighted Bitcoin’s relative strength compared to the S&P 500 in this risk-off environment and noticed its resilience around the 200-day moving average.
“It’s pretty remarkable to see that Bitcoin has risen +3.4% today today compared to the S&P 500, especially in a risk-off environment. As I have recently pointed out, BTC/Spy continues to hold over his 200-day sliding average cloud,” Franzen said in a post on X.
