- Bitcoin holds above $83K as Nasdaq drops 11%, outperforming gold and tech stocks post-April 2 tariffs.
- Trading volume surges 42% to $42.5B; market cap reaches $1.66T amid Wall Street volatility.
- Analysts see strong support at $82K but warn of reduced exchange activity and unclear next move.
Despite the bloodbath on Wall Street this week, Bitcoin price and the broader crypto market have been showing massive strength, firmly holding around $83,000 and not being part of the volatility induced by Trump tariff wars.
Bitcoin Holds Firm as Nasdaq Plunges Over 11 Percent
Bitcoin remains strong while the wider U.S. stock market faces deep declines. The Nasdaq Index has fallen by over 11 percent during the past two trading sessions. This marks the steepest decline since the COVID-19 pandemic crash. Despite the severe correction, Bitcoin has maintained stability above $83,000 and has avoided the heavy volatility hitting traditional financial markets.
Since April 2, when the Trump administration’s reciprocal tariffs began impacting global sentiment, Bitcoin has been the only major asset in positive territory. The prices for gold and silver went down together with the Magnificent 7 tech stocks but Bitcoin achieved a slight increase.
Bitcoin’s current price stands at $83,669 which represents a 0.6 percent increase and its trading volumes have surged by 42 percent to reach $42.5 billion. Market capitalization currently stands at $1.66 trillion.
Growing View of Bitcoin as a Market-Resilient Asset
Public discussion surrounding Bitcoin’s performance has intensified the examination of its ability to act as market risk protection. Bitcoin maintains steady value during times of increasing macroeconomic risk while traditional preferred safety assets like gold experience declines in market value..
Adam Back, the CEO of Blockstream told the public that Bitcoin seems to detach itself from traditional equities. He believes that prior correlations were possibly influenced by fiat liquidity constraints used during U.S. market hours.
In contrast, Arca’s Chief Investment Officer Jeff Dorman offered a different viewpoint. He stated the current Bitcoin price movements exist independently from both equities and commodity market fluctuations.
The strength of Bitcoin continues to grow because more people lose confidence in governmental authorities and financial institutions. According to his perspective Bitcoin never operated as market protection but functions as a protection method against government instability and banking institutions.
On-Chain Indicators Show Caution Despite Momentum
The price of Bitcoin continues to show remarkable strength according to analysts yet they observe reduced exchange transaction volumes. This drop could reflect weakening investor sentiment or reduced network participation. Crypto analyst Ali Martinez flagged this trend, pointing out that lower exchange activity may indicate a shift in momentum.
Kyledoops, another analyst, noted that there appears to be large-scale buying interest in keeping Bitcoin supported above $82,000. He suggested the current movement could be either a preparation for a sharp decline or a setup for a significant price surge if equities stabilize. The lack of clarity has left investors with split expectations regarding Bitcoin’s next direction.
Recent weeks observed Bitcoin being turned back at approximately $89,000 several times but it maintained critical support boundaries. Exclusive market triggers or shifts in macroeconomic sentiment could prevent Bitcoin from staying at $82,000 in the near future but technical analysis suggests a continuation of price consolidation in this zone.
