Source: Cointelegraph Original: "{title}"

Bitcoin is decoupling from the U.S. stock market and starting to trade more like precious metals, further demonstrating Bitcoin's increasing role as a safe-haven asset in the face of global economic turmoil.

According to Alex Svanevik, co-founder and CEO of the Nansen crypto intelligence platform, Bitcoin (BTC) has shown its growing maturity as a global asset over the past two weeks, behaving "more like gold than the Nasdaq."

Despite the escalating tariff conflicts between the world's largest trading nations, Bitcoin rebounded 12% in the two weeks leading up to April 22. The U.S. raised reciprocal tariffs on China to 125% on April 9, while China increased import tariffs from 84% to 125% starting April 12.

Svanevik stated in an interview with Cointelegraph that compared to altcoins and stock indices like the S&P 500, Bitcoin has shown "surprisingly resilience" during the trade war, but is still affected by concerns over an economic recession.

He added, "We expect gold to behave more resiliently, although if investors panic and need to liquidate, gold holdings may be net sold. This occurred for one or two days at the height of the trade war earlier this month."

Nevertheless, Svanevik indicated that Bitcoin will continue to benefit from regulatory developments and news related to U.S. Bitcoin reserves, especially regarding "more progress in the Treasury's search for ways to convert reserves into Bitcoin."

While the U.S. Bitcoin reserves will initially hold Bitcoin seized in government criminal cases, President Trump's executive order directs the government to devise a "budget-neutral strategy" to purchase more Bitcoin.

🇺🇸 LATEST: Executive Director of Digital Assets Bo Hines said the U.S. government may buy Bitcoin using tariff revenue. pic.twitter.com/Gfc2HiEJoL

Bo Hines, a member of the U.S. President's Digital Assets Advisory Committee, stated in an interview on April 14 that the U.S. is looking for "multiple creative ways" to fund Bitcoin investments, including utilizing tariff revenue and creating paper surpluses to fund Bitcoin reserves by reassessing the Treasury's gold certificates without selling gold.

JPMorgan: U.S. recession probability rises to 60%

Although Bitcoin has shown resilience amid tariff concerns, a potential U.S. recession could weaken investor demand for risk assets.

According to a research report from JPMorgan on April 15, the probability of a U.S. recession by 2025 has risen from 40% to 60%. The report stated, "The recent lifting of the 'Liberation Day tariffs' has reduced the shock to the global trading order, but the remaining 10% general tariffs still pose a substantial threat to economic growth, while the 145% tariffs on China keep the recession probability at 60%."

The report added that JPMorgan expects the Federal Reserve to "begin cutting rates in September and continue to cut rates at each subsequent meeting until January 2026—by June 2026, the policy rate will be reduced to 3%."

Related: U.S. judge transfers Binance lawsuit to Florida based on "first-to-file" rule.

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