Bitcoin (BTC) shows “signs of immunity”, even when the actions and a wider cryptocurrency market fell due to the global sale of the market after US President Donald Trump imposed a wide tariff on US imports last week, Binance Research.

According to trade in the middle of April 7, Bitcoin increased by almost 1% to almost 79,000 USD. Meanwhile, the S&P 500-edge of Google Finance The index of huge American supplies-it is essentially flat, and the monthly futures fell by about 1.5%.

“Even after the last BTC tariff ads, it showed some signs of immunity, keeping a permanent or reflecting on days when traditional risk resources hesitated”, binance, the world’s largest exchange of cryptocurrencies in the world, he said In the report on the survey of April 7.

In particular, the supply of long -term Bitcoin owners is still growing, “reflecting the belief and limited capitulation during recent variability,” said Binance.

On April 2, Trump said that he was putting tariffs at least 10% on most imports to the United States and added additional “mutual” tariffs to goods from 57 countries.

Since then, the main indicators of the US campaign – including S&P 500 and NASDAQ – have fallen by over 10%because traders prepared for the upcoming trade war.

Bitcoin has fallen more than actions – about 12% – but it remained better than the general market capitalization of cryptocurrencies, which dropped by about 25% from April 2.

“Now, when mutual tariffs appear, and global markets adapt to the perspective of long -term commercial fragmentation, a lot may depend on BTC’s ability to confirm its safe marina,” said the report.

Related: Crypto herds, IPO with the hustle and bustle of the tariff

Changing the correlation of assets

Bitcoin’s correlation with gold – historically considered the highest resource of unthreatening marina in times of extreme macroeconomic uncertainty – was low, which is an average of about 0.12 in the last 90 days, said Binance.

The cryptocurrency has a closer correlation with 0.32 actions. However, “despite the short -term BTC swings, it may still take place to re -supplement the more independent macro identity,” according to replacement.

“The key question is whether BTC can return to a long -term low -correlation pattern with actions,” noted the report.

Binance said that for now gold seems to be the preferred asset of a unthreatening marina among the fund managers.

He cited a survey in which 58% of respondents stated that they would prefer to keep gold during the trade war compared to only 3% for Bitcoins.

“Market participants will carefully observe whether BTC is able to keep their appeal as invisible, without permission in a global economy,” said Binance.

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