According to Samaa, Inky Cho, a financial market strategist at Exness, stated that the cryptocurrency market has recently declined or is similar to the previous trend of Mt Gox's debt repayment and BTC transfer have triggered panic selling, while Trump's remarks about the upcoming economic recession have had an impact on the stock and cryptocurrency markets.
At present, the correlation between Bitcoin and Nasdaq remains at around 40%, a decrease from the previous peak of 72%. However, Bitcoin is polarizing against ETH and other altcoins. Bitcoin is more like a tool to hedge against economic uncertainty and current US tariffs, while altcoins, including Ethereum, are still tied to the tech industry and tech dominated Nasdaq market. Therefore, in the long run, Bitcoin's role as a tariff hedge tool may strengthen, especially when tariffs trigger economic instability.