Viewpoint: The recent fall in the crypto market may be related to the panic selling triggered by the transfer of BTC for the Mt.Gox debt repayment.

1-01-01 00:00:00

Abstract generation in progress

Odaily News Exness financial market strategist Inky Cho stated that the recent decline in the crypto assets market may be related to the panic selling triggered by the previous transfer of BTC for debt repayment by Mt.Gox, while Trump’s remarks about the impending economic recession have also impacted the stock and crypto assets markets. From a macro perspective, the correlation between Bitcoin and the Nasdaq is currently around 40%. However, Bitcoin and ETH, along with other altcoins, are showing signs of divergence. Bitcoin is increasingly seen as a tool for hedging against economic uncertainty and current U.S. tariffs, whereas altcoins, including Ethereum, remain tied to the tech sector and the Nasdaq market dominated by tech stocks. Furthermore, in the long term, Bitcoin’s role as a tariff hedge may strengthen, especially when tariffs trigger economic instability. (Samaa)

BTC1.26%

CHO-1.94%

TRUMP0.93%

ETH1.39%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.