Cryptocurrency outperforms Nasdaq, BTC becomes "safe haven asset" in the US market

Analysts believe that as $5 trillion in market value evaporates from U.S. stocks, Bitcoin is leading the cryptocurrency market to rise against the trend, significantly outperforming the Nasdaq index. CoinDesk analysis points out that as global funds seek havens outside traditional stock markets, BTC is being viewed by some investors as a "hedge tool isolated from the U.S. market". Mainstream currencies such as ETH are also rising in sync, with total crypto market value rebounding by more than $80 billion in a single day. Market observers believe this reflects a weakening correlation between digital assets and traditional risk assets.