On March 29, Inky Cho, strategist at Exness financial marekt, said that the recent decline in the cryptocurrency market may be related to the sell-off panic caused by Mt. Gox's debt settlement and transfer of BTC, while Trump's remarks about the upcoming economic recession have hit the stock and cryptocurrency markets.
At present, the correlation between Bitcoin and Nasdaq remains at around 40%, down from the previous peak of 72%, but Bitcoin and ETH and other counterfeit products are polarizing, Bitcoin is more like a hedge against economic uncertainty and current US tariffs, while counterfeit products, including Ethereum, are still linked to the Nasdaq market dominated by the technology industry and technology stocks. Therefore, in the long run, Bitcoin's role as a tariff hedging tool may increase, especially when tariffs cause economic instability.
Opinion: Bitcoin's role as a hedge against U.S. tariffs may increase, and crypto market polarization may continue
2025-03-29 09:40:55
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