Bitcoin (BTC) doubled down on its divergence from stocks at the April 21 Wall Street open as US trade war tensions escalated. BTC/USD 1-day chart. Source: Cointelegraph/TradingView
Trade war reactions fuel BTC price gains
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD matching month-to-date highs above $88,000.
Bitcoin continued higher after the weekly close to catch up with gold as the latter set fresh all-time highs of $3,430 per ounce.
XAU/USD 1-hour chart. Source: Cointelegraph/TradingView
By contrast, stock markets came under renewed selling pressure, with the S&P 500 and Nasdaq Composite Index both down over 2% at the time of writing.
Newfound BTC price strength thus appeared to end lockstep trading with equities as part of reactions to trade-war headlines.
These included warnings about the deterioration of relations with the US from both China and Japan, while US President Donald Trump <a