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- #Will BTC Hit a New High?#
BTC has broken past $100,000 and is now consolidating near its peak. What’s your outlook on the next move? With bullish sentiment on the rise, could BTC reach a new all-time high?
#Crypto Market Rebounds#
The crypto market is rallying across the board — altcoins are gaining momentum, and Memecoins are heating up! 🔥MOODENG is up over 100%, while PNUT and VIRTUAL have each gained more than 45%. The total crypto market cap has now exceeded $3.22 trillion!
What’s next for the market? Which rebound tokens are you most bullish on?
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According to Bitwise, Bitcoin is different this time: However, despite everything, the direction is up! - Coin Bulletin
Bitwise investment director Matt Hougan stated that Bitcoin has behaved differently in the recent market downturn compared to previous periods, maintaining its strength despite macro risks and signaling upward potential.
Bitcoin has surprised many investors by remaining almost inactive over the past month. BTC, which traded at $84,317 in March, is trading at $84,379 today, a change of only 0.07% in the intervening month. This is especially noteworthy in an environment of significant economic developments, such as the creation of a Bitcoin strategic reserve by the United States and President Trump's global tariffs.
The U.S. stock market has lost about 12% since its peak on Feb. 19, while Bitcoin's decline over the same period has been limited to 12.4%. Hougan compared this performance to previous crises, such as the market crash in 2022 and the onset of the Covid-19 pandemic. For example, in 2022, the S&P 500 was down 24.5%, while BTC was down 58.3%. Similarly, during the 2020 Covid crisis, when stock markets declined by 33.8%, BTC fell by 38.1%. This time, however, Bitcoin is well on its way to breaking its historical patterns.
Bitcoin has never performed better than stocks during any major market correction in history. However, Hougan believes that this tradition could be broken in the current situation. With institutional investors starting to see BTC as digital gold, Bitcoin's volatility during downturns has decreased compared to stocks.
According to Hougan, this stability in Bitcoin's price is a sign that strengthens its potential to become a mature and safe haven. As institutions and governments increase their Bitcoin purchases, it is suggested that BTC could move out of the risky asset category and reinforce its identity as a protective asset.
Finally, Hougan claims that the economic tension arising from current tariffs could put Bitcoin in a favorable position within a more fragmented reserve system.