Mike Tyson famously said, “Everyone has a plan until they get punched in the face.” Bitcoin was a digital gold until when it was expected to behave like gold. JP Morgan laughs: “JPMorgan’s recent analysis, as of April 2025, highlights mounting pressure on Bitcoin’s “digital gold” narrative amid the escalating U.S.-China trade war and market turmoil. The bank points to Bitcoin’s sharp reversal—dropping from $84,600 to $83,000 on April 4 after China’s 34% tariff retaliation—as evidence that it’s behaving more like a risk asset than a safe-haven store of value.
“Unlike gold, which climbed 1% to $2,700 amid the chaos, Bitcoin shed $37 billion in market cap in 20 minutes, tracking the S&P 500’s 4.9% plunge and pre-market 4% slide rather than decoupling as a hedge. JPMorgan argues this undermines the long-held pitch by crypto advocates that Bitcoin mirrors gold’s role as a non-correlated asset in times of economic distress.”
Now, the next theory for Bitcoin!
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