Bitcoin Price Nears $87K While Stock Markets Slip – 'Clear Sign' BTC Sentiment Is Maturity
According to macroeconomic expert Lawrence McDonald, the leading cryptocurrency has never shown such resilience in the face of high volatility.
Tom Carreras, Helen Brown | Edited by Aoyon Ashraf Updated April 22, 2025, 5:35 AM Published April 21, 2025, 7:45 PM
Important to know:
- Bitcoin rose to $86,800, up 2.3% in the last 24 hours as traditional markets fell.
- The CoinDesk 20 Index rose 1.17%, while leading cryptocurrency stocks and miners saw marginal declines.
- Experts believe that Bitcoin's stability may indicate its changing perception as a safe haven asset amid weakness in the stock market and the dollar.
Bitcoin (BTC) is showing resilience despite the stock market continuing to fall to tariff-related levels on Easter Monday.
The top cryptocurrency has jumped 2.3% in the past 24 hours and is now trading at $86,800 for the first time since April 3, the day after the Trump administration unveiled its new tariff policy. Largely underpinned by Bitcoin, the broader CoinDesk 20 Index has risen 1.17% in the same period, with most tokens relatively stable.
Cryptocurrency-related stocks also showed stability, with Coinbase (COIN) and Strategy (MSTR) down 1.2% and 1.3%, respectively, while major Bitcoin miners such as MARA Holdings (MARA), Riot Platforms (RIOT), and Core Scientific (CORZ) were down 2-3%.
The crypto market's resilience is noteworthy given that the S&P 500, Nasdaq, and Dow Jones indices are down 3.35%, 3.5%, and 3.27%, respectively, returning to pre-tariff lows from two weeks ago.
Meanwhile, gold has risen 2.9% to trade at $3,400, while the DXY (an index measuring the dollar's strength against a basket of other currencies) has hit its lowest level in three years.
“Is today’s simultaneous rise in Bitcoin and gold just holiday buzz or a significant shift toward Bitcoin as a safe haven asset? The latter would mean a major shift in how traditional finance perceives Bitcoin,” analysts at crypto trading firm QCP Capital note.
“With Europe still on holiday, it may take a few more sessions for market confirmation. The correlation between Bitcoin, gold and stocks should be closely monitored.”
At the same time, Lawrence McDonald, former head of US macroeconomic strategy at French investment bank Société Générale, said it might be time to sell gold in favor of bitcoin.
“Bitcoin has NEVER shown this much resilience with VIX around 30,” he wrote on X, calling the stable
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