Volatility shook financial markets in April, and cryptoactives did not escape the storm.
However, Bitcoin (BTC) and some cryptocurrencies demonstrated resilience. Beyond fluctuations, a deep change is taking shape. The digital currency created by Satoshi Nakamoto He moves away from speculation and positions himself as a pillar in the global economy, behaving more and more like digital gold.
The financial markets faced turbulence in April, promoted by uncertainty about Donald Trump’s tariff policy after the «day of liberation.»
Bitcoin, together with other cryptoactives, experienced volatility, as well as risk actions and assets. However, the Nasdaq Crypto Indextm (NCITM) reveals that cryptocurrencies recovered faster than S&P 500 And gold weeks after events such as the United States regional banking crisis in 2023, the reversion of the Yen Carry Trade in August 2024 and Trump tariffs last April.
This recovery capacity is not accidental. According to a report from the investment firm hashdex, Bitcoin is entering a new phasecharacterized by a convergence between market behavior, regulatory developments and use cases in the real world. Two trends stand out in this process.
Bitcoin, digital gold
First, Bitcoin consolidates its role as a reserve of value, adopting characteristics of a «digital gold» in institutional portfolios.
Companies such as Strategy, Metaplenet and Semler Scientific have accumulated more than 560,000 BTC, according to Bitcoin Treasuries data.
In addition, government initiatives reinforce this perception: in March, President Trump announced the formalization of a Bitcoin strategic reserve in the United States.
On the other hand, Bitcoin’s behavior in recent macroeconomic events aligns it with gold. When the stock market rates fell and the dollar reached a minimum of three years, BTC and the gold also rose.
Gold marked a milestone reach $ 3,500 per ounce on April 22duplicating its value from 2020.
Bitcoin, on the other hand, showed his strength after falling below $ 76,000 in early April for tariffs, and then recovering in the middle of the month and climbing almost 25%. With its verifiable shortage of 21 million units, global liquidity and portability, BTC is presented as a digital alternative to gold.
Tokenization: The new border
Secondly, the global adoption of Stablecoins and the tokenization of real world assets (RWA) are transforming the panorama. In this area, networks like Ethereum and Solana They consolidate as the infrastructure of an emerging financial system.
A significant example is the Blackrock initiative, the world’s largest asset manager, which requested authorization from the United States Stock Exchange and Securities Commission (SEC) to tokenar a class of BLF Treasury Trust Fund actions (TTTXX), A monetary market fund valued at 150,000 million dollarsas reported by cryptootics.
To this is added a more favorable regulatory environment in the United States, with political announcements that support cryptocurrencies. According to hashdex, these trends They accelerate the integration of Bitcoin and cryptoactives into the global economy and generate long -term investment opportunities.
Key Evolution Factors
HASHDEX identifies three factors that drive this transition. First, The macroeconomic scenario favors Bitcoin as coverage against monetary devaluation and instability. While developed economies deal with inflation and debt, investors reassess real assets. Bitcoin, with its fixed limit, is positioned as an alternative to gold.
Second, the institutional infrastructure has taken a leap with the launch of Bitcoin ETF in cash in the United States in 2024. These instruments offer a regulated and efficient route to invest in BTC.
The ETF Ishares Bitcoin Trust (ibit), the largest in the market and managed by Blackrock registered tickets of 3,000 million dollars in 12 days until April 30while the ETFs of BTC in cash together accumulated 4,000 million in eight days, said Nate Geraci, a specialist in ETF.
Third, on-chain data reflect a change in investor behavior. The long -term holders (LTH), who maintain Bitcoin for more than 155 days, have resumed accumulation. The change in net position for LTH went to positive land, indicating that these investors buy more than they sell.
In addition, a significant part of Bitcoin remains in inactive Wallets for more than a year, which reinforces price stability and confidence in its future value.
A maturity phase for Bitcoin
Hashdex summarizes this evolution in a central idea: Bitcoin and cryptocurrencies They are entering a phase marked by a measurable integration into the global economy, leaving speculation behind.
The role of Bitcoin as a value reserve, together with the centrality of intelligent contract platforms in stable currencies and tokenization reflects this transition. Its activity indicates a macro conviction, not only speculative movements, says the report on the LTH.
Throughout its history, Bitcoin has been perceived as a speculative asset. However, his shortage, decentralization and resistance to censorship consolidate it as a reliable reserve. «Today, we see clear signs that this perception is changing,» adds Hashdex.