Opinion: The recent decline in the crypto market may be related to the panic selling caused by Mt.Gox's debt repayment and BTC transfer

Odaily 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.Gox's transfer of BTC to repay debts. At the same time, Trump's remarks about the impending economic recession also brought shocks to the stock and cryptocurrency markets.
From a macro perspective, the correlation between Bitcoin and Nasdaq remains at around 40%, 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 tied to the Nasdaq market dominated by the technology industry and technology stocks. In addition, in the long run, Bitcoin's role as a tariff hedging tool may increase, especially when tariffs cause economic instability. (Samaa)