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Are you tired of winning yet?
Well, it’s safe to say gold bugs are the only ones that can relate to that feeling right now. Meanwhile, Bitcoin has shown surprising resilience over the past 24 hours—despite the S&P 500 recording its worst day in four years.
Liberation Day has rattled traditional markets
The Russell 2000 just closed in bearish territory for the first time since 2022. The S&P 500 dropped nearly 5%, now sitting 12.5% off its February all-time high. The Nasdaq is down over 5%, edging dangerously close to bear market territory. And let’s not forget the ‘Magnificent 7’—now officially in bearish territory, down 25% from their peak.
Yet despite this sea of red across legacy markets, Bitcoin is holding firm, refusing to give up ground. That in itself is a strong signal. Could this be the early stages of a long-awaited decoupling from traditional risk assets? It’s only a matter of time before Bitcoin reclaims its position as the true risk-off, safe haven asset.
Trump continues to downplay market turmoil, sticking to his March stance: he’s not watching the stock market, and this is short-term pain for long-term gain. Whether he’s right—only time will tell.
Stormrake Spotlight: Ripple (XRP) ($2.05)
Stormrake Spotlight: Ripple (XRP) ($2.05)
XRP has once again tested the bottom of its range—briefly breaking below—before demand and the 200 EMA pushed it back up. This marks the eighth time since December that XRP has failed to close beneath this key level. For long-term bulls, this area continues to offer strong DCA and accumulation potential.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Despite the short-term bearish flip in structure, $81.6k remains a key support—and once again, it's held. BTC has bounced from this level, a positive sign given the macro backdrop. We're now watching the 21 EMA; a clean reclaim would signal bulls stepping back in. A failure to break above would likely see another test of support—this time with added pressure.
BTC Total ETF Flows for 3 April: $ + 60.2 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.
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