Dragonfly Partner Haseeb: Bitcoin combines the properties of gold and Nasdaq

ChainCatcher news, Dragonfly managing partner Haseeb Qureshi has written an analysis of the current cryptocurrency market trends. He stated that Bitcoin's price remains stable, possibly due to its dual attributes of gold and NASDAQ - "surviving in the gap" between rising gold prices and falling tech stocks. The continued buying power of MicroStrategy is also providing support.

Haseeb said that the market currently expects interest rate cuts and a restart of quantitative easing, as the riskiest assets, altcoins are therefore benefiting first. In addition, unlike stocks and bonds, altcoins are not directly affected by tariffs. He also believes that last Friday retail investors were bottom-fishing in the stock market while institutional funds were flowing out; since altcoins are dominated by retail investors, there was no significant fluctuation in capital flow and prices remained strong as a result.