Bitcoin (BTC) Shows Unexpected Strength as Global Markets Reel from U.S. Tariff Uncertainty

As global markets reel from U.S. tariff uncertainty, Bitcoin has shown unexpected strength.

As global markets are reeling from the U.S. tariff uncertainty, Bitcoin (BTC) has shown unexpected strength. The recent tariff drama began when Donald Trump announced a 10% base import tax on April 2, only to backtrack a few days later. This policy flip-flop sent shockwaves through traditional financial markets, causing stocks and bonds to swing unpredictably. However, in stark contrast, Bitcoin remained relatively calm, capturing the attention of institutional investors and traders.

Crypto Markets Unmoved While Wall Street Wobbles

While stocks plunged and bonds tumbled, the crypto space didn’t flinch. According to Greg Cipolaro from NYDIG, crypto markets have handled the recent turmoil far better than traditional assets.

In a note released on April 11, Cipolaro highlighted that Bitcoin’s volatility stayed “relatively stable” despite a 22.5% drop from January highs. He noted that liquidations in crypto were significantly lower than during past major events, indicating more maturity in the market.

Tether (USDT), the largest stablecoin, briefly dipped below $1 but didn’t spiral, further adding to the perception of crypto resilience. Cipolaro emphasized that risk-focused investment funds, such as risk parity funds, are beginning to look seriously at Bitcoin. These funds could potentially help reduce volatility in the long run, creating a cycle of increased institutional adoption and growing stability.

Traders Eye $100K BTC With Bullish Bets

One of the biggest signs of bullish sentiment is emerging in the crypto derivatives market. On Deribit, a leading crypto options platform, traders have shown a growing appetite for a dramatic Bitcoin rally.

The $100K call option—meaning traders are betting Bitcoin will reach that price—has seen open interest soar to $1.2 billion, making it the most popular option on the platform, according to data from Amberdata.

Deribit reported that last week’s market chaos pushed many traders to abandon bearish puts in favor of bullish calls. Puts in the $75K–$78K range were sold off, while calls between $85K and $100K were picked up aggressively. This movement helped normalize the options skew, a metric that had previously reflected bearish sentiment.

Analysts Split: Safe Haven or Warning Signs?

The debate over Bitcoin’s next move remains active. Cipolaro and others see growing confidence in Bitcoin’s value as an asset detached from sovereign risk. This perception could be fueling the calm behavior during market panic.

However, not all analysts are convinced. Ruslan Lienkha, Chief of Markets at YouHodler, pointed out that technical indicators show a potential “death cross” forming—a bearish signal that could indicate more downside risk if macroeconomic conditions don’t improve.

Lienkha advises caution, suggesting that Bitcoin’s calm could be temporary if broader economic indicators deteriorate further.