Bitcoin holds key support against the trend, and its relative strength indicates that pricing logic is quietly changing

Mars Finance News, on April 5, according to Cointelegraph, on April 2, the Trump administration announced the implementation of a comprehensive reciprocal tariff policy, hoping to reverse the $1.2 trillion trade deficit. This move caused the S&P 500 index to plummet 9.7% in two days, with a market value evaporation of $5.4 trillion, creating a historical record low, surpassing the $3.3 trillion record during the March 2020 pandemic crash. The Nasdaq 100 technology stocks were severely hit, with a single-day decline reaching a record since 2022. During the same period, Bitcoin only dropped 3.7%, holding the key support level of $82,000. Industry experts point out that Bitcoin is experiencing an evolution in market positioning, previously highly correlated with risk assets during macro impacts, but this deviation may represent a change in investor perception, further separating from risk assets and consolidating its status as digital gold. Bitcoin's defense of the $82,000 support level proves that structural demand has not been eroded by panic selling. Real Vision's chief crypto analyst Jamie Coutts stated that based on the M2 money supply growth model, BTC is expected to hit $132,000 this year. Recent on-chain data shows that whales are buying the dip, and although the price remains sideways, according to Glassnode data, long-term Bitcoin holders are continuously increasing their holdings, with total holdings breaking through 13.5 million coins. Short-term holders are also buying 15,000 BTC in April against the trend to bet on short-term profits. Although the year-end target of $132,000 may seem somewhat aggressive, the growth of M2 money supply and the demand for value storage methods due to geopolitical changes have made Bitcoin's relative strength impossible to ignore, and the market may provide a new pricing logic for crypto assets.