Viewpoint: The recent fall in the crypto market may be related to the panic selling triggered by the transfer of BTC for the Mt.Gox debt repayment.

1-01-01 00:00:00

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Odaily News Exness financial market strategist Inky Cho stated that the recent decline in the crypto assets market may be related to the panic selling triggered by the transfer of BTC for the repayment of debts by Mt.Gox, while Trump's remarks about the impending economic recession have also impacted the stock and crypto assets markets. From a macro perspective, the correlation between Bitcoin and the Nasdaq is currently around 40%. However, Bitcoin is diverging from ETH and other altcoins, appearing more as a tool to hedge against economic uncertainty and current U.S. tariffs, while altcoins, including Ethereum, remain linked to the technology sector and the Nasdaq market dominated by tech stocks. Furthermore, in the long run, Bitcoin's role as a tariff hedging tool may strengthen, especially when tariffs trigger economic instability. (Samaa)

BTC-1.15%

CHO2.4%

TRUMP-1.16%

ETH-1.17%

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