Bitcoin Defies Nasdaq Chaos: Is It the New Hedge in Town?

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What to know:

  • Bitcoin has been a bit of a rockstar, holding up quite well as stocks dive headfirst into the abyss since that little tariff announcement on Wednesday.
  • The plot thickens on Friday as the Nasdaq takes another 5% nosedive, while bitcoin just waltzes along with a tiny gain. Oh, the audacity!
  • One sharp-eyed analyst claims the bitcoin love in the face of market hysteria is coming from aggressive buying by the corporate BTC treasure hunters.

Ah, after a few weeks of playing the ‘synchronized swimming’ game with the Nasdaq (because why not?), Bitcoin (BTC) seems to have caught wind of its own charm and is strutting down its own runway as the stock market flounders in misery.

Picture this: Nasdaq, on Thursday, took a whopping 6% dive, and then on Friday it decided to be even more dramatic with another 5% drop. Meanwhile, Bitcoin, with all the flair of a seasoned performer, is hanging steady at around $83,000. Oh, and that’s a whole 1% up over the last 24 hours, and just 3.5% down since President Trump’s tariff drama unfolded on Wednesday. Could it be the most resilient asset on the block? Quite possibly!

But hold your horses, folks! Bitcoin isn’t just surviving — it’s thriving. While the crypto-related stocks like Coinbase (COIN), MicroStrategy (MSTR), and Semler Scientific (SMLR) are slipping down the slope like clumsy dancers, bitcoin is performing pirouettes far ahead of them.

The broader crypto market seems to be following suit, as the CoinDesk 20 Index shows some spunk, with XRP, Solana’s SOL, and Cardano’s ADA making 4%-5% gains. Bravo, my dears!

“Bitcoin’s holding its ground rather impressively,” says David Hernandez, a crypto investment expert at 21Shares. “After a brief dip below $82,000, it bounced back quicker than you can say ‘market hedge,’ proving once again that it’s got a penchant for showing up when macroeconomic stress is in the air.”

If this ‘decoupling’ continues (fingers crossed), it could be a rather smashing victory for BTC, particularly among those institutional investors looking for a safe haven amidst the shakiness of the stock market, Hernandez muses.

Geoff Kendrick, the wizard of digital assets at Standard Chartered Bank, insists that while bitcoin often behaves like a tech stock (oh, how typical), it has proven its worth as a hedge during market pandemonium — much like it did during the 2023 regional banking crisis in the U.S. “And let’s not forget the recent charm of being a ‘US isolation’ hedge too,” he quips in a Friday note. Oh, Geoff, you’re too kind.

But wait! Before we get too carried away, some suggest that this newfound strength might just be the result of companies with bitcoin investment strategies, like Michael Saylor’s or GameStop’s, buying up Bitcoin like it’s the latest fashion trend.

Sean Farrel, head honcho of digital assets at Fundstrat, isn’t buying the whole “it’s just Bitcoin being magical” argument. “Still in the camp that this is the multibillion-dollar corporate treasury twap doing its thing,” he says. “But, if Bitcoin continues to hold up over the weekend, we may need to rethink that stance. Ah, the drama!”

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2025-04-04 19:57