Bitcoin is starting to act as a store of value during times of “US-risk-off” sentiment, marking a potential shift in its relationship with traditional assets, according to NYDIG’s global head of research, Greg Cipolaro. Cipolaro noted that Bitcoin has gained more than 13% since the beginning of April, while US markets such as the S&P 500 and tech-heavy Nasdaq have declined amid escalating global trade tensions due to US President Donald Trump’s tariffs.