- Bitcoin’s resilience above $80k surprises analysts amid broader market sell-offs and gold’s price drop.
- Adam Back highlights Bitcoin’s decoupling from traditional markets, calling previous correlations “fake.”
- US market turmoil worsens as tech giants suffer, while Bitcoin maintains strong performance with high liquidity.
Bitcoin’s (BTC) recent trend has sparked reactions from market commentators as it continues to trade above the $80,000 mark. Bloomberg analyst James Seyffart expressed surprise at BTC’s resilience as Blockstream founder Adam Back highlighted the decoupling between Bitcoin and the traditional market. These comments follow the recent market liquidation triggered by President Donald Trump’s regulatory announcement.
Bitcoin Defies Market Turmoil as Analysts Highlight Resilience Amid Sell-Offs
In a recent X post, Seyffart remarked that he is surprised at “BTC’s resilience” as the coin maintains stability amid the ongoing asset sell-offs and gold’s price slippage.
The Bloomberg analyst noted:
Genuinely shocked a bit by Bitcoin’s resilience. Would not have guessed it would hold above $80k in this type of broader market selloff of risk assets… Hell — even Gold is down?
Seyffart posted a chart revealing gold’s price trend in the past few days. Per the chart, gold peaked at $3167 on April 2 before yielding to the broader economic downtrend. As of April 4, gold changed hands at $3026 per ounce after slipping 2.80% (-87.33 points) in the previous trading session.
Adam reacted to Seyffart’s comments, drawing attention to Bitcoin’s current decoupling as its price moves independently of the traditional markets. Adam claimed that BTC’s recent coupling was “fake” and possibly influenced by trading dynamics related to fiat liquidity. He added that “market makers” such as the US open market may be leveraging the liquidity shortage to auto-correlate Bitcoin.
US Markets in Turmoil as Tech Giants Tumble Amid Tariff War
According to CNN data, the US market has plunged into extreme fear, triggered by the macroeconomic reaction to Trump’s recent regulatory shakeup. Recall that earlier this week Trump imposed a baseline 10% levy on imports, which could rise to 50% for some nations.
Several top US companies have been hit hard by the current market trend, with Nasdaq suffering its worst performance since 2020 after slipping 10% in the past week. Apple recorded its biggest loss in over five years, dropping 14% for the week-to-date, as per a CNBC report.
Jeff Bezos’ Amazon also endured nine consecutive weeks of decline for the first time since 2008. In the past 48 hours, seven of the most valuable US tech firms have lost a combined $1.8 trillion in market cap. In light of this market crash, market commentators are doubtful of a market turnaround and predict a potential recession.
Meanwhile, Bitcoin trades at $82,698 after recording 15 green trading days in the past month. BTC’s liquidity is high compared to its market cap. In response to the US tariff slam, China’s Finance Ministry on Friday announced a 34% tariff imposition on US products starting from April 10.
