Gold Drops, US Stocks Fall, But Bitcoin Holds On: Bloomberg Analysts Baffled – Here Are Their Comments

Bitcoin appears to be charting its own course, showing resilience amid a broader market sell-off that has shaken both risk assets and safe havens like gold.

Bloomberg ETF analyst James Seyffart expressed surprise at Bitcoin’s strength, noting that BTC managed to stay above $80,000 despite sharp declines in stocks and commodities. “It’s remarkable that BTC has held its own even as traditional risk assets and gold have fallen,” Seyffart said.

Bitcoin May Finally Be Decoupling From US Tech Stocks

Bitcoin’s resilience has fueled speculation that the long-discussed decoupling from traditional financial markets may finally be happening. Blockstream CEO and Bitcoin pioneer Adam Back echoed that sentiment in a commentary on X:

“Bitcoin is finally decoupling. I thought the link was fake. Maybe market makers are using the fiat liquidity shortage in the Bitcoin market to automatically correlate Bitcoin, which is being noticed at the US market opening.”

Historically, Bitcoin has traded in tight correlation with tech stocks, particularly the Nasdaq 100, since the early days of the COVID-19 pandemic. However, recent trading behavior suggests a potential shift. While the Nasdaq 100 fell for a second straight session on Friday, amid renewed trade war fears following President Donald Trump’s tariff announcements, Bitcoin rose nearly 1% to near $83,300.

Analysts point to the geopolitical and macroeconomic backdrop as the catalyst for this divergence.

“We think Trump’s aggressive move is accelerating a rethinking of the long-term value of BTC in a portfolio,” said Augustine Fan, partner and CFO of cryptocurrency trading platform SignalPlus. “The reset of the global order has important medium-term implications for the US as a capital destination.”

“With BTC not being the target of the global trade war and being forced to de-dollarize due to the policies of the current administration, I think we could intuitively see a period of subdued volatility in the space relative to everything else,” said Bohan Jiang, head of OTC options trading at Abra.

*This is not investment advice.

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