Bitcoin made a bold move early April jumping from $81,500 to $84,500 while stocks and gold dropped. This brief rally came after fresh tariff news rattled global markets. For a moment, Bitcoin looked like it might break free.
That price spike gave bulls hope. Could Bitcoin finally act as a hedge like gold? VanEck analysts say—not yet.
The surge didn’t last. Within weeks, the link between Bitcoin and equities tightened again. The 30-day correlation with the S&P 500 returned to 0.55. That means Bitcoin still tracks traditional assets more often than not.
Risk Asset Label Still Sticks
VanEck’s team points to a simple truth. BTC remains a risk asset in the eyes of the market. It reacts to news. It follows investor mood. It moves alongside tech stocks more than opposite them.
Traders looking for a pure safe haven might be disappointed. Bitcoin hasn’t shaken its equity-market shadow. The report warns not to mistake short-term moves for structural change.
Bitcoin Outpaces Stocks but Tracks the Trend
Even with its tight correlation, Bitcoin still outperformed the broader market in April. That outperformance doesn’t equal independence, though. The asset’s volatility cuts both ways. Big gains often come with big risks.
Institutional interest remains strong. Many see value in Bitcoin’s long-term upside. But VanEck’s research says not to expect gold-like behavior—at least not yet.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoins-market-moves-still-mirror-stocks-vaneck-says/