On March 29th, Exness financial market strategist Inky Cho stated that the recent downturn in the cryptocurrency market may be related to the panic selling caused by the transfer of BTC from the Mt.Gox bankruptcy settlement. At the same time, Trump's comments about an upcoming economic recession have had an impact on both the stock and cryptocurrency markets.

Currently, the correlation between Bitcoin and the Nasdaq remains around 40%, a decrease from the peak of 72% previously. However, Bitcoin and ETH as well as other altcoins are showing a polarization, with Bitcoin being more like a hedge against economic uncertainty and current U.S. tariffs, while altcoins including Ethereum are still tied to the tech industry and tech stocks dominant in the Nasdaq market. Therefore, in the long run, Bitcoin's role as a hedge against tariffs may strengthen, especially when tariffs trigger economic instability.