Bitcoin, showing 'signs of resilience', beats stocks, gold as equities fold — Binance
While gold futures are down, the precious metal remains preferred over Bitcoin by fund managers as a safe-haven asset choice during times of uncertainty.
Bitcoin (BTC) is showing “signs of resilience” even as stocks and the broader cryptocurrency market plunge amid a global market sell-off after US President Donald Trump imposed sweeping tariffs on US imports last week, Binance Research said.
As of mid-day trading on April 7, Bitcoin is up almost 1% to nearly $79,000. Meanwhile, the S&P 500 — an index of large US stocks — is essentially flat and front-month gold futures are down around 1.5%, according to Google Finance.
“Even in the wake of recent tariff announcements, BTC has shown some signs of resilience, holding steady or rebounding on days when traditional risk assets faltered,” Binance, the world’s largest cryptocurrency exchange, said in an April 7 research report.
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