CoinDesk Podcast Network MARKETS DAILY: Crypto Update | Despite Trade War Uncertainty, $175K Bitcoin Ahead
Feb 4, 2025
Uzman Ahmad, CEO of Zodia Markets and expert in institutional trading, joins to discuss the impact of U.S.-China trade tensions on Bitcoin's price. He explains how recent regulatory moves, including a proposed sovereign wealth fund, could bolster institutional interest. Ahmad also delves into Bitcoin's dual role as both a risk asset and a safe haven, and offers a bold prediction for its price amidst rising optimism. The conversation highlights essential trends in the crypto market, underscoring the importance of stablecoins and evolving investor strategies.
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Bitcoin's Correlation with Traditional Assets
- Bitcoin's behavior resembles traditional assets, influenced by macro events.
- Despite being considered 'digital gold', Bitcoin acts as a risk asset, correlating with market trends.
Institutional Reactions and Crypto Market Recovery
- Institutional players react diversely to uncertainty; some buy the dip, others seek exits.
- Crypto markets show faster recovery than traditional markets due to 24/7 trading.
Sovereign Wealth Fund and Bitcoin
- Trump's executive order creates a sovereign wealth fund, prompting speculation about Bitcoin holdings.
- A sovereign wealth fund could hold Bitcoin as part of a diversified portfolio, driving US wealth.