Bitcoin Resists As S&P And Gold Falter Under Economic Tensions

Bitcoin catches everyone off guard. In the midst of a stock market debacle caused by Trump’s new tariffs, cryptocurrency shows an unexpected resilience. While the S&P 500 and Nasdaq are collapsing, and gold struggles to reassure, BTC is gaining ground. This movement shakes up certainties about its correlation with traditional markets and reignites the debate : is bitcoin establishing itself as a standalone asset in systemic crises?

A resilience of bitcoin against stock market turmoil

On April 2, Donald Trump announced tariffs on most American imports, aiming to close a trade deficit estimated at $1.2 trillion. This decision immediately caused sharp tensions in traditional markets.

While stocks were plummeting heavily, bitcoin stood out with its relative stability. On April 7, it rose by about 1 %, briefly reaching $79,000 according to CoinMarketCap. This resilience caught analysts’ attention.

Here are the market reactions since the announcement:

• The S&P 500 fell by 10.2 % ;
• The Nasdaq dropped by 10.4 % ;
• Bitcoin recorded an increase of 1 % ;
• Gold remained somewhat stable, but did not progress as sharply.

“Bitcoin shows strong resilience, particularly visible over the last 24 hours,” commented Caleb Franzen, a macroeconomic analyst. This dynamic contradicts the usual correlations observed between BTC and American stock indices, notably the Nasdaq, which is typically its main mirror of volatility.

Towards a redefinition of the role of bitcoin among safe-haven assets ?

Despite its current behavior, bitcoin does not yet seem to have convinced traditional fund managers. A survey conducted by Bank of America reveals that, in a context of increasing trade tensions, 58 % of managers prefer to hold gold, while only 3 % favor bitcoin.

However, data from the past three months suggest a more nuanced reality. BTC shows a correlation of 0.32 with the S&P 500, compared to only 0.12 with gold. This configuration suggests that, despite its low institutional adoption as a safe haven, bitcoin could be following its own trajectory, increasingly detached from classical standards.

Analyst James Butterfill from CoinShares offers a forward-looking perspective :

Bitcoin could regain its own macroeconomic identity once the dust of the current crisis settles.

He mentions a potential redefinition of BTC as a unique asset, less dependent on traditional economic cycles. This positioning would be strengthened by its algorithmic scarcity and independence from central bank monetary policies.

If this trend is confirmed, it could mark a turning point for bitcoin, often referred to as “digital gold.” Recent events thus lay the groundwork for a strategic repositioning of cryptos within institutional portfolios, provided their behavior remains consistent over the long term. This perception of BTC could evolve more rapidly than expected, especially if economic turbulence becomes the new norm in the coming years.