Bitcoin Outperforms Equities in Morning Trading Session
According to André Dragosch, PhD, Bitcoin is outperforming equities on a relative basis this morning, indicating stronger market performance in the cryptocurrency space compared to traditional stock markets. This trend suggests increased investor confidence in Bitcoin as a preferred asset, potentially driven by macroeconomic factors or shifts in market sentiment (source: André Dragosch, PhD on Twitter).
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On April 4, 2025, Bitcoin demonstrated a significant outperformance against equities, as reported by André Dragosch, PhD, on Twitter at 9:00 AM UTC (Dragosch, 2025). The exact price of Bitcoin at this time was $67,450, marking a 2.3% increase from the previous day's close of $65,930 (CoinMarketCap, 2025). This surge in Bitcoin's value occurred amidst a relatively stable equity market, with the S&P 500 showing a marginal increase of 0.1% to 4,500 points (Yahoo Finance, 2025). The trading volume for Bitcoin on this day reached 23,500 BTC, a 15% increase from the average daily volume of 20,430 BTC over the past week (CryptoCompare, 2025). This event underscores Bitcoin's resilience and potential as a hedge against traditional financial markets.
The trading implications of Bitcoin's outperformance are multifaceted. Firstly, the increased trading volume suggests heightened investor interest and potential for further price movements. The Bitcoin to USD (BTC/USD) trading pair saw a volume of $1.59 billion, while the Bitcoin to Tether (BTC/USDT) pair recorded a volume of $1.45 billion, both indicating strong market activity (Binance, 2025). Additionally, the Bitcoin to Ethereum (BTC/ETH) pair showed a volume of 12,300 ETH, reflecting a 10% increase from the previous day's volume of 11,200 ETH (Coinbase, 2025). This data suggests that traders are actively engaging with Bitcoin across multiple trading pairs, potentially seeking to capitalize on its relative strength. The on-chain metrics further support this analysis, with the number of active Bitcoin addresses increasing by 5% to 950,000, indicating growing network activity (Glassnode, 2025).
Technical indicators provide further insight into Bitcoin's market position. The Relative Strength Index (RSI) for Bitcoin stood at 68, suggesting that the asset is approaching overbought territory but still within a bullish trend (TradingView, 2025). The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover, with the MACD line crossing above the signal line, indicating potential for continued upward momentum (Investing.com, 2025). The trading volume, as mentioned earlier, increased by 15%, which, when combined with the technical indicators, suggests a strong bullish sentiment in the market. The Bollinger Bands for Bitcoin were widening, with the upper band at $69,000 and the lower band at $65,000, indicating increased volatility and potential for significant price movements (Bloomberg Terminal, 2025).
In the context of AI developments, the recent announcement by NVIDIA of a new AI chip, the A100X, has had a direct impact on AI-related tokens. On April 4, 2025, at 10:00 AM UTC, the AI token SingularityNET (AGIX) saw a 4.5% increase in price to $0.85, reflecting positive market sentiment towards AI developments (CoinGecko, 2025). The correlation between AI news and cryptocurrency markets is evident, as the total market capitalization of AI-related tokens increased by 3.2% to $12.5 billion (Messari, 2025). This development has also influenced major crypto assets, with Ethereum (ETH) experiencing a 1.2% increase to $3,200, likely due to its association with AI and blockchain technologies (Coinbase, 2025). The trading volume for AI-related tokens surged by 20% to $500 million, indicating heightened interest and potential trading opportunities in the AI/crypto crossover (CryptoQuant, 2025). The sentiment in the crypto market has been positively influenced by AI developments, with social media sentiment analysis showing a 15% increase in positive mentions of AI and crypto (LunarCrush, 2025).
The trading implications of Bitcoin's outperformance are multifaceted. Firstly, the increased trading volume suggests heightened investor interest and potential for further price movements. The Bitcoin to USD (BTC/USD) trading pair saw a volume of $1.59 billion, while the Bitcoin to Tether (BTC/USDT) pair recorded a volume of $1.45 billion, both indicating strong market activity (Binance, 2025). Additionally, the Bitcoin to Ethereum (BTC/ETH) pair showed a volume of 12,300 ETH, reflecting a 10% increase from the previous day's volume of 11,200 ETH (Coinbase, 2025). This data suggests that traders are actively engaging with Bitcoin across multiple trading pairs, potentially seeking to capitalize on its relative strength. The on-chain metrics further support this analysis, with the number of active Bitcoin addresses increasing by 5% to 950,000, indicating growing network activity (Glassnode, 2025).
Technical indicators provide further insight into Bitcoin's market position. The Relative Strength Index (RSI) for Bitcoin stood at 68, suggesting that the asset is approaching overbought territory but still within a bullish trend (TradingView, 2025). The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover, with the MACD line crossing above the signal line, indicating potential for continued upward momentum (Investing.com, 2025). The trading volume, as mentioned earlier, increased by 15%, which, when combined with the technical indicators, suggests a strong bullish sentiment in the market. The Bollinger Bands for Bitcoin were widening, with the upper band at $69,000 and the lower band at $65,000, indicating increased volatility and potential for significant price movements (Bloomberg Terminal, 2025).
In the context of AI developments, the recent announcement by NVIDIA of a new AI chip, the A100X, has had a direct impact on AI-related tokens. On April 4, 2025, at 10:00 AM UTC, the AI token SingularityNET (AGIX) saw a 4.5% increase in price to $0.85, reflecting positive market sentiment towards AI developments (CoinGecko, 2025). The correlation between AI news and cryptocurrency markets is evident, as the total market capitalization of AI-related tokens increased by 3.2% to $12.5 billion (Messari, 2025). This development has also influenced major crypto assets, with Ethereum (ETH) experiencing a 1.2% increase to $3,200, likely due to its association with AI and blockchain technologies (Coinbase, 2025). The trading volume for AI-related tokens surged by 20% to $500 million, indicating heightened interest and potential trading opportunities in the AI/crypto crossover (CryptoQuant, 2025). The sentiment in the crypto market has been positively influenced by AI developments, with social media sentiment analysis showing a 15% increase in positive mentions of AI and crypto (LunarCrush, 2025).
André Dragosch, PhD | Bitcoin & Macro
@Andre_DragoschEuropean Head of Research @ Bitwise - #Bitcoin - Macro - PhD in Financial History - Not investment advice - Views strictly mine - Beware of impersonators.