Bitcoin Strongly Returns to $90,000: A Safe Haven in a Turbulent Market? Has BTC Regained Its Title as Digital Gold?

Under the double pressure of stock market turbulence and a weakening dollar, Bitcoin has once again become favored by investors, with prices soaring past the $90,000 mark, setting a new high since early March. This rebound indicates that Crypto Assets are regaining their status as a safe-haven asset in an uncertain macro environment.

Bitcoin breaks above 90,000 USD, reaching a new high since March.

According to Coin Metrics data, Bitcoin rose over 3% on Tuesday, reaching a price of $90,282, marking its first return to this level since March 7. In fact, Bitcoin had already increased by about 3% on Monday, rebounding approximately 21% from its April low.

This wave of strong rise comes as the US stock market faces a new round of selling pressure. Especially as Trump increases pressure on Federal Reserve Chairman Jerome Powell, demanding immediate interest rate cuts and considering whether he can be replaced before his term ends in May 2026, market unease further intensifies.

Investors flock to Bitcoin ETF, with a single-day inflow of $381 million.

The Bitcoin spot ETF is also receiving a strong response, attracting $381.4 million in capital inflow in just one day on Monday, marking the largest single-day inflow since January 30, when the inflow amount was $588.2 million. This also marks the fourth net inflow day in the past five trading days, indicating that market capital is continuously flowing into Bitcoin-related products.

Decoupling from the stock market? The correlation between Bitcoin and the S&P 500 has decreased.

Analysts point out that Bitcoin is showing signs of "decoupling" from traditional risk assets. Ed Engel, an analyst at Compass Point, stated that Bitcoin historically has had a correlation close to 1.0 with the stock market during macro market selling pressure, but currently has a 30-day correlation of only 0.65 with the S&P 500 index.

"Although we are optimistic about Bitcoin's recent decoupling trend, we remain cautious about its ability to break through the resistance level of $93,000 given the still low trading volume," Engel added. He also mentioned that the confidence of long-term holders remains strong, along with the emergence of strategic buying and the gradual decline in Bitcoin market liquidity, which could support Bitcoin's resilience amid market volatility.

Technical observation: Is the next target $95,900?

According to Katie Stockton, a chart analyst at Fairlead Strategies, $88,000 is an important resistance level for Bitcoin, and if it can break through stably, it will help boost short-term price performance. She predicts the next potential resistance will be at $95,900.

In the face of adversity, do Crypto Assets shine again?

The recent trend of Bitcoin has drawn the attention of many observers to its role during times of global economic instability. With both gold and Bitcoin rising over 9% in April, while the S&P 500 fell by 6% and the dollar index dropped by 5%, this may indicate that the market is re-pricing risks and safe-haven assets.

Will more investors view Bitcoin as "digital gold" in the future? Or is this wave of rising just another temporary Rebound? It remains to be seen. However, current signs indicate that Bitcoin has indeed "held its ground in the storm."

This article Bitcoin strongly returns to $90,000: a safe haven in a turbulent market? Is BTC reclaiming its title as digital gold? First appeared in Chain News ABMedia.