The post BTC’s Haven Claim Hit as U.S., China Play Tariff Chicken appeared on BitcoinEthereumNews.com.

By James Van Straten and Omkar Godbole (All times ET unless indicated otherwise) One thing markets despise is uncertainty, and right now it’s coming from all corners of the globe, largely fueled by Trump’s tariffs. Markets rebounded somewhat on Tuesday following Monday’s bloodbath in Asia and Europe, but it was more of a relief rally than a true recovery. At the heart of the conflict are the U.S. and China, both refusing to be the first to blink — even if it means prolonged uncertainty and pain for global markets. As markets took a breather from the turmoil, crypto skeptics were quick to point out how bitcoin’s (BTC) safe haven narrative — bolstered by its resilience late last week — quickly unraveled on Monday when the price crashed to $75,000. While that’s true, expecting the bitcoin price to remain unaffected was overly optimistic. During crises investors historically rush to cash, liquidating even traditional havens investments such as gold. Monday was no exception. Still, bitcoin has shown lower beta than U.S. equities since the tariff announcement. In the bigger picture, bitcoin is holding up fairly well. The Nasdaq is down over 22% from its all-time high, while bitcoin is off by 28%. In previous episodes — like the yen carry-trade unwind in August 2024 or the COVID crash in March 2020 — bitcoin suffered far deeper relative losses. Since the New York market closed on Wednesday, BTC has declined 8.4%, outperforming the S&P 500’s 10% drop and the Nasdaq’s 11% fall. “What matters is that BTC’s beta to broader risk assets appears meaningfully lower in this sell-off than in previous ones. This suggests a growing recognition of bitcoin’s potential role as a non-sovereign store of value during periods of economic stress,” David Lawant, head of research at FalconX, said in an…

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Filed under: News - @ April 9, 2025 2:20 am