Bitget CEO Gracy Chen says the single-day erasure of more than $1 trillion from US equities has accelerated a global re-evaluation of macro risk, and that Bitcoin’s milder drawdowns and lower leverage are shifting how some investors treat the asset.
Chen noted the dramatic equity selloff has prompted faster repricing of risks tied to higher energy prices, stickier inflation, and geopolitical tensions that now influence capital allocation beyond commodity markets. She observed Bitcoin trading near $66,500 and down roughly 4% on the day, a performance that has, on a relative basis, outpaced major stock indices during the same stress period.
According to Chen, the episode is less a symptom of crypto-specific stress and more an indicator of broader portfolio adjustments. Spikes in oil and renewed geopolitical friction, she argued, make macro shifts more immediately relevant to allocation decisions across equities, crypto, and safe-haven assets.
A key reason Bitcoin has behaved differently this time, Chen said, is the substantial reduction in derivatives leverage. With lower overall leverage across crypto markets, forced liquidations — which historically amplify downturns — are less frequent and severe. That has helped produce a more orderly drawdown: spot Bitcoin ETFs have seen outflows, but not the panic-driven capitulation that marked prior crashes. Bitget itself has tightened risk protections and systems as volatility rose.
Chen suggested these dynamics point to a changing use-case for Bitcoin. In a fragmented macro environment, some portfolios are beginning to consider Bitcoin as a more neutral allocation—an asset that participates in rotations among crypto, equities, and gold rather than acting solely as a high-beta risk play. Recent single-day drops of 1%–5% followed by rebounds have underscored Bitcoin’s evolving behavior amid dominant macro drivers.
The current episode contrasts with an earlier deleveraging wave that wiped about $1.1 trillion from digital assets over 41 days, when leverage cascades greatly intensified losses. Analysts have tracked how tariff moves, inflation shocks, and policy shifts that hit technology stocks have also reverberated through crypto, even as Bitcoin’s relative resilience has been notable while some US indices flirt with bear-market territory.
For ongoing market updates and live prices, Chen and others point to crypto.news and major market pages that track Bitcoin and other large-cap tokens such as Ethereum, XRP, Solana, and Dogecoin.