The Bitcoin’s (BTC) Resilience During Tariff Chaos has become wonderful -Hanga: Bernstein

“Hello Curly, kill anyone now,” Mitch of Billy Crystal told Jack Planance’s curly to the city slickers. “The day is not over yet,” Curly replied.

However, Bernstein is ready to call it one day, saying that Bitcoin’s (BTC) dropped only 26% from a record high less than three months ago showing stability.

Previous crises, such as the Covid-19 epidemic and shock interest rates, found the world’s largest cryptocurrency “cliff” with 50-70% drawdowns, the report mentioned.

Price action “suggests demand from more resilient capital,” the analysts led by Gautam Chhugani wrote.

“The thesis of bitcoin’s digital gold is encouraged by the growing institutional adoption -institutional flow through ETFs and corporate treasury,” written by the sets.

However, tariffs are bad news for miners.

They affected the mining supply chain, and it had a negative implications for the US bitcoin miners hashrate, Bernstein said. The Hashrate Refers to the total combined computational power used in mine and process transactions in a Proof-of-work Blockchain, and a proxy for industry and mining poverty competition.

Large Bitcoin miners, such as the Riot Platform (Riot), Iren (Iren), Mara Holdings (Mara) and Cleanspark (CLSK), can get market sharing as they have been scanned and have artificial (AI) optionality, the report added.

Read more: Why Trump’s tariffs can be good for bitcoin