- Bitcoin outperformed gold and stocks in Q2 2025.
- Risk assets rebounded after an initial tariff-induced dip in global markets.
- Key metrics suggest more upside movement for Bitcoin.
According to data from CryptoRank, a cryptocurrency data analysis platform, Bitcoin outperformed gold and stocks in Q2 2025 despite those assets’ impressive records over the same period.
Gold and the S&P 500 recorded new all-time highs during the quarter, even though the consequences of Donald Trump’s latest tariff policies threatened their growth at the beginning of the period under review.
Trump’s Tariff Policies Caused a Market Crash in Q2
Trump employed a blanket approach in his tariff policies, imposing massive taxes on the country’s traditional rivals, geopolitical competitors, and allies. The new administration’s actions took many by surprise and shocked global markets. Bitcoin, gold, and other safe-haven assets crashed because of the multifaceted trade war that the new policy triggered.
Related: Bitwise CIO Predicts Bitcoin Will Surpass $200K by 2025 as Demand Soars
The markets have rebounded after the initial decline to reclaim the initial losses. The ongoing rebound followed President Trump’s potential reconsideration of the tariff policies after he announced a 90-day pause to allow countries to negotiate trade deals with the US. Analysts consider that a strategic move that was part of the original plan.
Tariff-Pause Triggered a Rebound in Risk Assets
In the meantime, the tariff pause triggered a Bitcoin-led rebound, with key metrics signaling a bullish outlook for the top cryptocurrency. For instance, Bitcoin maintained a tight correlation with global M2 money supply in Q2 2025, with a projection that suggests it will continue and boost Bitcoin’s upward momentum.
Meanwhile, on-chain data confirmed Bitcoin’s growing bullish sentiment, with increased institutional adoption and purchases by hedge funds and crypto mining companies reflecting continued accumulation. Additionally, long-term holders are increasing their Bitcoin positions in an expression of confidence among non-speculative investors.
Related: “Coiled Like a Spring”: Why Analysts See Bitcoin Heading to $170,000 Next
TradingView’s data show that Bitcoin traded for $117,648 at the time of writing, after making a slight pullback from a $118,839 all-time high, which it achieved earlier on Friday. Analysts project a higher target for the cryptocurrency, with the $140,000 to $170,000 region dominating users’ predictions.
