Viewpoint: The recent decline in the cryptocurrency market may be related to Mt Gox repays debt and transfers BTC, triggering panic selling

Odaily Planet Daily News: Inky Cho, a financial market strategist at Exness, said that the recent decline in the cryptocurrency market may be related to the panic caused by the sale of BTC after Mt. Gox cleared its debt. At the same time, Trump's remarks about the upcoming economic recession have also had an impact on the stock and cryptocurrency markets. From a macro perspective, the current correlation between Bitcoin and Nasdaq remains at around 40%. However, Bitcoin is becoming polarized with ETH and other altcoins, with Bitcoin more like a tool to hedge against economic uncertainty and current US tariffs, while altcoins including Ethereum are still tied to the tech industry and tech dominated Nasdaq market. In addition, in the long run, the role of Bitcoin as a tariff hedging tool may be enhanced, especially when tariffs trigger economic instability. （Samaa）