tl;dr
The US Morning Crypto News Briefing highlights gold reaching an all-time high of $3,317 per ounce, driven by economic uncertainty and trade tensions. Bitcoin, however, has declined 11.8% in Q1 2025 and shows high sensitivity to macroeconomic factors, with a strong correlation to the S&P 500 but low ...
Gold has surged to an all-time high of $3,317 per ounce, driven by escalating global economic uncertainty and trade tensions among major economies. This 25% climb since the start of the year underscores growing investor anxiety, positioning gold as a preferred safe haven in tumultuous times.
Contrastingly, Bitcoin has experienced an 11.8% decline in the first quarter of 2025. Rather than acting as “digital gold,” Bitcoin’s behavior resembles that of tech stocks, exhibiting a strong 0.72 correlation with the S&P 500 but only a low 0.2 correlation with gold. This suggests that Bitcoin remains heavily influenced by macroeconomic factors and broader equity market trends, prompting investors to question its safe-haven status.
Market sentiment toward Bitcoin remains cautious, with a Fear and Greed Index reading of 29 indicating persistent fear. Despite a modest price recovery, significant outflows from Bitcoin ETFs continue, totaling over $812 million in April alone. Notably, BlackRock's IBIT fund accounts for the largest share of these outflows.
Investors and analysts are now closely watching Federal Reserve Chair Jerome Powell’s upcoming speech for guidance on potential rate cuts and insights into the inflation outlook amid ongoing trade conflicts. Earlier cues from Fed Governor Christopher Waller suggest inflationary pressures may be more persistent than currently anticipated.
In regulatory news, Coinbase has successfully cleared the SEC’s financial disclosure review without amendments, marking a positive development for the exchange. On the other hand, Bybit canceled the PAWS token airdrop due to user complaints over allocation inconsistencies.
Semler Scientific plans a $500 million securities offering to bolster its Bitcoin holdings despite a 5% unrealized loss on previous investments. Meanwhile, local governments in China are reportedly selling seized cryptocurrency assets to alleviate economic pressures.
VanEck has introduced a novel proposal called “BitBonds,” combining U.S. Treasury securities with a 10% Bitcoin allocation, aiming to aid in managing the nation’s $14 trillion debt refinancing challenge.
Crypto equities such as MicroStrategy, Coinbase, Galaxy Digital, MARA, Riot Platforms, and Core Scientific have experienced pre-market declines in response to broad market uncertainty, continuing the trend of heightened volatility within the sector.
This evolving landscape presents a complex picture: while traditional safe havens like gold thrive amid uncertainty, Bitcoin’s shifting correlations and market responses challenge its reputation as digital gold. Investors, industry watchers, and market participants await further macroeconomic signals to navigate these turbulent waters.