Bitcoin’s Breaking Point? Why Tariffs Could Finally Decouple Crypto From U.S. Equities

Last week, it felt like the market was holding its breath.

With Trump’s tariffs set to kick in on Liberation Day, there was tension in the air. Crypto was doing surprisingly well. Stocks were holding steady. But under the surface, everyone knew this rally felt more like hope than confidence.

So the question now is: Have we priced in the worst?

Markets often get ahead of bad news. Investors adjust, recalibrate, and continue forward. But this time, there’s still too much fog on the road. Uncertainty around tariffs, tightening in the U.S., and easing abroad make for a high-stakes macro puzzle.

Will Bitcoin Finally Break Free?

Here’s where things get interesting.

Traditionally, Bitcoin behaves like a high-beta tech stock. When U.S. equities crash, Bitcoin usually crashes harder. But this time, there’s a growing belief that something different might happen.

• Bitcoin has already taken a deeper hit than stocks. Its recent drawdown hit 30% compared to 10% for the S&P.
  
• Money is flowing out of U.S. markets into undervalued international ones.
  
• America is tightening, while global economies like China and Germany are easing—meaning liquidity might favor global assets like Bitcoin.
  

So the question becomes: If U.S. markets tank again… will Bitcoin tank less? Or not at all?

There’s no clear answer. Some analysts argue that Bitcoin is poised to finally decouple, driven by a new narrative forming around corporate Bitcoin adoption. Others still believe the market’s reflex is too strong: when stocks fall, everything falls.

Keynes said it best: “Markets can stay irrational longer than you can stay solvent.”

So even if Bitcoin should decouple, that doesn’t mean it will—at least not in the short term. If things get messy, expect BTC to bleed with the rest. But as Graham Stone said this week:
“If that happens — buy Bitcoin with both hands.”

A New Corporate Playbook?

Beyond the macro noise, the long-term picture is getting very bullish.
Just a few years ago, MicroStrategy’s Bitcoin pivot was considered radical. Now? It looks like a blueprint.

Take Metaplanet, a Japanese hotel developer that entered the Bitcoin game in April 2024. Since then, its stock has skyrocketed 2,300%, and it now holds 3,350 BTC. On Monday, it recorded a record ¥50.4 billion in trading value — surpassing even Toyota.

Then came Gamestop.

This week, it announced plans to raise $1.3 billion to adopt a Bitcoin treasury strategy — despite already holding $4.76 billion in cash. The playbook screams MicroStrategy. Saylor even jumped in, suggesting they go all-in and buy $3 billion in BTC. Classic Saylor.

And it doesn’t stop there:

• A French Bitcoin treasury firm picked up 580 BTC this week.
  
• Rumble added 188 BTC earlier this month.
  

This isn’t hype. It’s a movement. Quiet, strategic accumulation that could define the next bull phase.

The Bottom Line

In the short term, Bitcoin may still suffer if equities take a hit — old habits die hard. But the groundwork for something bigger is being laid right now.

Bitcoin is gaining real-world legitimacy.Corporates are buying. Liquidity is shifting.

So while the market frets about tariffs, Bitcoin may be getting ready to break out of Wall Street’s shadow — and finally become its own asset class.