Bitcoin, a major cryptocurrency by market capitalization, was able to surpass the technology-rich Nasdaq 100 index in the previous year.
The Nasdaq 100 has plummeted more than 16% since the beginning of the year. Bitcoin, meanwhile, has dropped by almost 12%.
$BTC will act as a bond proxy for market turmoil over the past week pic.twitter.com/ok4qgxpqpl
– #333kbyjuly2025 (@carpenoctom) April 4, 2025
Bitcoin’s decoupling from the US stock market is becoming one of the biggest stories of a tumultuous week.
Cryptocurrency has grown almost 3% over the past 24 hours despite the fact that the S&P 500, the flagship index that tracks the performance of the top 500 companies, has dropped by just 5.47% in one trading session. The index has declined by 8% over the past five days.
However, Bitcoin is flat every week. Despite a quick plunge following the announcement of tariffs, the major cryptocurrencies by market capitalization, along with the broader crypto market, showed impressive resilience.
In particular, gold prices fell sharply in tandem with stocks, despite the yellow metal being supposed to be uncorrelated.
Both XRP and SOL have grown by more than 5%, benefiting from Bitcoin’s overperformance.
Strategy (MSTR) stocks also rose 2.5%, diminishing the fact that all major stock market indexes have collapsed.
“This would completely remove Tradfi analysts,” said former reinsurance broker Jeff Walton.
Eric Balknas, a leading ETF analyst at Bloomberg; explained Bitcoin’s resilience as a “minor miracle.”
