While Bitcoin’s price has also declined, the leading cryptocurrency is demonstrating “signs of resilience,” according to Binance Research. In contrast, traditional assets like gold and stocks have suffered sharper pullbacks, particularly following import tariff announcements by Donald Trump last Friday.

Bitcoin Demonstrates Resilience

“Even in the shadow of new import tariffs, Bitcoin is showing signs of resilience, managing to hold or even recover on days when traditional risk assets falter,” stated Binance in a report released on April 7.

Adding to this trend, an increasing portion of Bitcoin is being held by so-called Long-Term Holders—investors who typically retain their BTC for at least 155 days. Historically, this group is known to sell much less frequently than short-term traders.

According to Binance Research, this growing segment is a positive signal for market stability:
“It reflects conviction and suggests that, despite recent volatility, selling pressure has remained limited.”

Binance also emphasized the need for Bitcoin to establish itself as a true safe haven during periods of economic uncertainty. So far, this goal has not been fully achieved, as Bitcoin has struggled to match the returns of gold during turbulent times.

Changing Correlations Between Asset Classes

The current correlation between Bitcoin and gold remains low, with a 90-day average of just 0.12. In comparison, Bitcoin’s correlation with stocks is significantly higher at 0.32. These figures indicate that Bitcoin has yet to solidify its role as a safe-haven asset.

“Despite short-term volatility, Bitcoin still has room to carve out a more independent macroeconomic identity,” Binance notes.

The findings are further supported by survey data mentioned in the report, which shows that Bitcoin is still far from being widely recognized as a safe-haven asset. According to the survey, 58% of participants view gold as the leading safe haven, placing it well ahead of Bitcoin.

However, the timing of the survey could have influenced the outcome. If it was conducted toward the end of February, gold was experiencing a strong bullish phase, while Bitcoin was navigating a more difficult market environment.

This market context likely shaped participant sentiment, underscoring the dynamic nature of investor perceptions during volatile periods.

Conclusion: A Work in Progress

While Bitcoin has not yet fully claimed the role of digital gold, recent data indicates growing investor confidence and reduced short-term selling pressure. Combined with changing macroeconomic correlations, this suggests that Bitcoin may be inching closer to gaining recognition as a serious hedge asset—but the journey is not over yet.

As Binance Research highlights, Bitcoin still needs to prove itself in the eyes of mainstream investors, especially in periods of economic stress. Until then, it will continue to straddle the line between risk asset and safe haven, in a financial world still trying to define its place.

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Roman B.

I have 6 years of writing experience on several leading websites dealing with cryptocurrencies and other investments. I have been in the Web3 sector for a similar amount of time and have collaborated on several projects from NFT to P2E. My previous experiences: Business2Community.com, TradingPlatforms.com, CryptoSvet.