Bitcoins <\/p>\n
Updated Apr 4, 2025, 8:56\u202fp.m. <\/span>Published Apr 4, 2025, 9:47\u202fa.m. <\/span><\/p>\n<\/div>\n The U.S. stock-market slide prompted by President Donald Trump’s global tariff announcement<\/a> on Wednesday sent the Nasdaq Composite Index into one of its biggest funks since the start of the century.<\/p>\n The tech-heavy index lost 5.5%<\/a> on Thursday, just outside the top 20 worst single-day drawdowns since 2000, according to Investing.com. Most of the largest drawdowns occurred during the dot-com crash of 2000-2001 and the 2008 global financial crisis. Other equity measures also suffered, with the S&P 500 index falling almost 5%.<\/p>\n In contrast, the bitcoin (BTC<\/a>) price, which is typically correlated with U.S. equities over short timeframes, bucked the trend. The largest cryptocurrency, which tumbled immediately after the announcement while stock markets were closed, rose 0.7% the following day, with momentum carrying into Friday, according to Glassnode data. <\/p>\n Bitcoin is now trading above $84,000 compared with about $87,000 before Trump started speaking. Nasdaq futures, meanwhile, are lower ahead of the U.S. jobs report<\/a> due later in the day.<\/p>\n Bitcoin made its 2025 low in mid-March at around $76,000, whereas the Nasdaq hit a low on Thursday<\/a>. Year-to-date, bitcoin is outperforming the Nasdaq, losing 10% against the index’s 11%.<\/p>\n