Bitcoin is showing signs of resilience as U.S. equities extend their steep decline, raising fresh hopes among crypto investors that the digital asset is finally decoupling from traditional risk markets.
While the Nasdaq Composite has dropped 11% over two trading days—falling 6% on Thursday and another 5% by midday Friday—bitcoin is bucking the trend, rising about 1% in the past 24 hours and trading near $83,000. That’s just a 3.5% pullback since President Trump’s tariff announcement on Wednesday evening triggered a broad market sell-off.
Crypto equities, however, haven’t been spared. Shares of Coinbase, MicroStrategy, and several mining firms have all posted double-digit losses during the same stretch. In contrast, the broader digital asset market is showing relative strength, with the CoinDesk 20 Index rising, led by gains in XRP, Solana, and Cardano.
“Bitcoin has shown impressive resilience,” said David Hernandez, a crypto investment specialist at 21Shares, who views this behavior as reinforcement of bitcoin’s appeal as a macro hedge.
Geoff Kendrick of Standard Chartered noted that bitcoin, often correlated with tech stocks, tends to act as a market hedge during crises—as seen during the March 2023 banking panic. He now sees bitcoin also playing the role of a “U.S. isolation” hedge.
Still, some analysts attribute the price support to large corporate buyers. Fundstrat’s Sean Farrell pointed to potential multi-billion-dollar corporate treasury accumulation programs as driving current strength, while leaving room for a narrative shift if bitcoin sustains gains into the weekend.