Opinion: Bitcoin’s role as a hedge against US tariffs may grow
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reported that Exness financial market strategist Inky Cho stated that the recent downturn in the cryptocurrency market may be related to the Mt.Gox debt settlement transferring BTC and causing selling panic. Meanwhile, Trump's comments about the upcoming economic recession have impacted the stock and cryptocurrency markets. Currently, Bitcoin's correlation with Nasdaq remains around 40%, down from its previous peak of 72%. However, Bitcoin and ETH and other Altcoins are experiencing polarization. Bitcoin is more like a tool for hedging economic uncertainty and current US tariffs, while Altcoins including Ethereum are still linked to the Nasdaq market dominated by the tech industry and tech stocks. Therefore, in the long run, Bitcoin's role as a tariff hedging tool may be strengthened, especially when tariffs cause economic instability.
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