Bitcoin Nears $80K but 'Turning Point' in Sight, Suggests Analyst

Bitcoin's value has dropped over 5% following President Trump's tariff announcement, raising concerns about its role as a safe haven asset. While some experts, like Joel Kruger of LMAX Group, see potential in bitcoin as a store of value amid stock market volatility, others, like Javier Rodriguez from XBTO, note its correlation with risk markets. JPMorgan analysts further question bitcoin's "digital gold" status, favoring gold as the primary safe haven during economic uncertainty. Despite recent declines, bitcoin remains above its production cost of $62,000, highlighting ongoing market debates about its true value. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk