Bitcoin Breaks Away from Stocks; Will It Follow Gold’s Lead?

In a surprising move, Bitcoin has taken a different course as it moved away from US stock trends this week. This could be a sign that the once-strong link between crypto and equities may be fading. Gold has already started moving independently and setting records. Notably, it has set 12 new daily records this year. Will bitcoin turn out to be the next asset to stand out on its own? It remains to be seen.

Is Bitcoin Changing Its Course?

Bitcoin is often seens as a ‘tech stock in disguise’. Although its often linked to the Nasdaq 100, its recent move suggests otherwise. BlackRock’s iShares Bitcoin Trust (IBIT) for instance, which trades only during US market hours, actually rose 0.46% on Wednesday while Nasdaq 100 dropped over 3%, hitting one of its worst days ever. These moves indicate that Bitcoin is beginning to act independently from the traditional markets.

Besides, Strategy also rose 0.30% while all the ‘Magnificent Seven’ stocks ended up red in the day. During Powell’s speech as well, both Bitcoin and the Nasdaq dropped at the same time, However, even while the Nasdaq kept falling, Bitcoin bounced back above $84,000. Although Powell’s hawkish comments on inflation and rising tariffs startled the markets, Bitcoin did not react as strongly to the bad news as the traditional markets did. 

Markets were especially disturbed when Powell was asked if the Fed would come to rescue during big stock market drops, to which Powell firmly answered “no”.

Although the Fed can step in to help the stock market during major drops, acting like a safety net, however, Bitcoin being a bearer asset, lacks such support. It remains to be seen if Powell was serious or was just trying to downplay market expectations. 

Bitcoin – A Standalone Asset In Long Term?

Dylan Bane at Messari, crypto data research firm suggests that in the short term, Bitcoin and crypto will likely stay linked to US stocks due to market reactions to policy changes and tariffs. However, in the long run, he notes that the ongoing tariffs could drive economic changes, helping Bitcoin move away from traditional assets and gain recognition as an independent store of value.

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Bitcoin To Follow Gold’s Lead?

Analysts believe that Bitcoin could follow gold’s lead and hit $155,000 even though it still lags behind in 2025. Crypto trader Cryptollica identifies strong similarities in their price patterns and predicts a break out soon. Glassnode has also highlighted that both the assets have held up remarkably well, the current macroeconomic storm.

Historically, Bitcoin and Gold have strongly correlated with the rising money supply. Gold has responded to the liquidity wave by hitting a new record high of $3,350. As Liquidity continues to rise, Bitcoin may follow suit. Glassnode also notes that Bitcoin and gold are gaining ground as global neutral reserve assets, with BTC down only 30% below its ATH, which is a modest dip per standards.