Dragonfly partner Haseeb: Bitcoin has attributes of both gold and the Nasdaq

ChainCatcher news, Dragonfly managing partner Haseeb Qureshi published an analysis of the current trends in the cryptocurrency market. He stated that Bitcoin's price remains stable, possibly due to its dual nature of being akin to both gold and the Nasdaq—"surviving in the cracks" between rising gold and falling tech stocks. The continued buying power of MicroStrategy is also providing support.

Haseeb noted that the market currently anticipates interest rate cuts and the restart of quantitative easing, which benefits altcoins as the most risky assets. Additionally, unlike stocks and bonds, altcoins are not directly affected by tariffs. He also believes that retail investors were bottom-fishing in the stock market last Friday, while institutional funds were flowing out; since altcoins are predominantly driven by retail investors, the liquidity has not fluctuated significantly, keeping prices firm.