Opinion: Trump's recent policies could shift investors away from bitcoin and towards safer assets such as gold

Mike McGlone, senior commodity strategist at Bloomberg, said bitcoin could continue to underperform as Trump's recent policies move investors to safer assets such as gold, arguing that risk assets are showing signs of returning to their long-term averages, primarily its 200-week moving average, which has historically served as a key bottom line during major price corrections. As of April 20, bitcoin's 200-week moving average was around $46,300, down about 45% from its current price level of around $85,000.