Opinion: Bitcoin’s role as a hedge against US tariffs may grow

CoinRank News: Exness financial market strategist Inky Cho said that the recent decline in the cryptocurrency market may be related to the panic selling caused by Mt.Goxs transfer of BTC to settle debts, and Trumps remarks about the upcoming recession have brought shocks to the stock and cryptocurrency markets. Currently, the correlation between Bitcoin and Nasdaq remains at around 40%, down from the previous peak of 72%, but Bitcoin and ETH and other altcoins are polarizing. Bitcoin is more like a tool to hedge against economic uncertainty and current US tariffs, while altcoins including Ethereum are still linked to the Nasdaq market dominated by the technology industry and technology stocks. Therefore, in the long run, Bitcoins role as a tariff hedging tool may be enhanced, especially when tariffs cause economic instability.