Bitcoin Shows Signs of Breaking Free From Wall Street Slide
Could the long-anticipated Bitcoin–equity market decoupling finally be underway? After weeks of mirroring the Nasdaq’s every move, bitcoin (BTC) appears to be stepping out on its own—even as traditional markets crumble.
While the Nasdaq extended its steep losses with another 5% drop midday Friday—on top of Thursday’s 6% plunge—bitcoin is proving surprisingly resilient. BTC is hovering around $83,000, up about 1% in the past 24 hours and down just 3.5% since President Trump reignited trade war fears with his Wednesday evening tariff announcement.
Crypto stocks, by contrast, are getting hammered. Shares of Coinbase (COIN), MicroStrategy (MSTR), Semler Scientific (SMLR), and mining firms have all seen double-digit declines over the last two sessions.
Meanwhile, the broader crypto market is quietly gaining ground. The CoinDesk 20 Index is in the green, with tokens like XRP, Solana (SOL), and Cardano (ADA) posting 4%–5% gains, signaling a potential sentiment shift.
“Bitcoin’s ability to hold the line despite macro turbulence is impressive,” said David Hernandez, a crypto investment strategist at 21Shares. “It dipped briefly below $82,000 but rebounded quickly—reinforcing the idea that it can serve as a hedge during moments of economic instability.”
If this divergence continues, it could bolster bitcoin’s reputation among institutions as a safe-haven asset—something more commonly attributed to gold or bonds.
Geoff Kendrick, head of digital asset research at Standard Chartered, noted last week that BTC typically trades like a tech stock—until panic sets in. “During crises, like the U.S. regional banking mess in March 2023, bitcoin behaved more like a hedge,” he said. “The past 36 hours suggest it may also be emerging as a hedge against geopolitical isolation.”
Still, not everyone’s convinced the price action reflects a true decoupling. Sean Farrell, head of digital assets at Fundstrat, suspects corporate accumulation could be playing a role.
“Feels more like a multi-billion-dollar corporate treasury TWAP in action,” Farrell wrote Friday on X. “But if this strength carries through the weekend, we’ll need to rethink that.”
