Dave portnoiopen founder Barstool Sports, published A simple question on X last week that hit the nerve in the crypt in the world: “If the Bitcoin point is independent of American dollars and unregulated, why is it working exactly on the American stock market today?”
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That one turn summarized what a lot of occasional investors were asked, especially as Bitcoin and Cripto stocks took a dive president Donald Trump’s The new round of the tariff on Wednesday.
Bitcoin was hovering near $ 88,000 before Trump Announcement. Shortly after the tariff policy revealed, he slipped below $ 83,000. It wasn’t alone. Stocks tanned in trade working hours, with severe heavy ETFs like Invesco KKK (NASDADA:KKK) falls 4%.
The CRIPTO shares also followed the same trend. Microstrategi (NASDAK:Mstr) Dropped 7%, coins (NASDADA:Coin) 6% and Robbhood fell (NASDADA:Hood) 10% lost.
So much for “independently”.
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Many people are anchored to answer the Portnoy’s question. Some pointed out of institutional involvement, others blamed emotions, and several leaning on technical analysis.
“Bitcoin is traded as a short-term risk deadline, because it is the most liquid, plastic, 24/7 funds on the ground,” MicroStrate Executive Chairman said Michael Sailor. “In the time of panic, traders sell what they can, not what they want.”
And then there is a regular logic. “If you were to pay for rent What do you sell first? Apple stocks or your crypto bags?” One user wrote.
Another answered, “Boom. When you realize that big money had already kidnapped Bitcoin and is no longer different from the stock market.”
The others get sarcastically: “1. Day Market Medveda: Portnore reveals what the correlation means.” I: “It used to be the currency before it was abducted and converted to collectible.” A prominent Benjamin Coven analyst also accumulated, said, “How can you be your age and write something like that?”
Some users defended Bitcoin’s original intention. “Traders are penies. Hodlers are under,” one said. Another added, “Bitcoin is the best performance of the funds in the last 15 years.”
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This latest fall bitcoin did not come out of nowhere. Wall Street has already rolled the inflation and low consumer feelings. On Friday, a few days ago “Oslobođenja Day”, industrial average DOV Jones fell over 700 pointsS & P 500 Slide 2%, and Nasdak (Nasak:Ndak) Almost 3% lost.
He then happened to Trump’s tariff announcement, renewing trade wartons. GDPnov Atlanta Fed forecast It now shows a decline of 2.8% of GDP for K1, more than -3.7% 1. April.
While Bitcoin showed some resistance compared to inventories, still moving in the same direction when fear is guessed.
Some still believe in one of Bitcoin Original Promises: A Decentralized hedgion against economic chaos. But for now, it is most agreed that Bitcoin is still a risk tool, and it’s like one.
As portnoy pointed out, it looks more and more just another part of the system It was supposed to replace – “In the market, Bitcoin above. Market down, Bitcoin down.” Or as Ross GerberCEO Gerber Kawasaki, said“BTC pricing movements are associated with feelings. Risk on, up. Risk, down.”
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This article Dave Portnot says that many think, “If Bitcoin should be independent of the dollar, why does it trade just like the stock market”? “ originally appeared on Benz
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