Bitcoin acting "less Nasdaq" and more like gold, despite 60% recession odds
Summary
Bitcoin is increasingly trading like a safe-haven asset, resembling precious metals rather than the US stock market. Over two weeks leading to April 22, Bitcoin's price rose by 12%, despite escalating tariffs between the US and China, with the US imposing tariffs of 125% on China and China reciprocating. Bitcoin demonstrated resilience compared to altcoins and the S&P 500 but remains susceptible to recession fears. The US government is exploring funding strategies for Bitcoin investments, potentially using tariff revenue and reevaluating gold certificates. JPMorgan reports a 60% probability of a US recession in 2025, influenced by ongoing tariffs. The Federal Reserve is expected to begin easing monetary policy in September 2025.
