Bitcoin Remains Resilient as Tech Stocks Tumble Following Tariff Shock
While U.S. equities endured sharp losses this week, bitcoin (BTC) displayed notable resilience, defying broader market trends and holding key support levels.
Thursday’s trading session saw the Nasdaq Composite Index plunge 5.5%, marking one of its steepest single-day drops in over two decades. The decline came in response to President Donald Trump’s announcement of wide-reaching tariffs impacting 180 nations — a move that rattled risk assets globally. The S&P 500 also posted a nearly 5% drop, underscoring the market’s reaction to the policy shift.
In contrast, bitcoin showed relative strength, recovering from its initial drop post-announcement to post a 0.7% gain on Thursday, with bullish momentum carrying into Friday. At press time, BTC traded above $84,000, down slightly from earlier levels but well above the recent low of $82,000. Notably, BTC remains over 10% above its March low of $76,000.
Meanwhile, Nasdaq futures continued to lag ahead of the March nonfarm payrolls report. Despite the volatility, bitcoin’s year-to-date performance slightly outpaces that of the Nasdaq, highlighting its growing role as an alternative risk asset.
Analyst Caleb Franzen emphasized bitcoin’s technical posture: “BTC’s strength relative to equities is increasingly hard to ignore — particularly with the BTC/SPY ratio maintaining position above the 200-day moving average,” he shared on X.
With markets now awaiting further economic data and potential Fed policy shifts, bitcoin’s ability to weather macro turbulence may reinforce its evolving position within global portfolios.
