According to the VanEck Digital Assets Monthly recap for April 2025, Bitcoin outperformed stocks in a tumultuous month, showing its potential as a macro hedge.

Even though Bitcoin briefly moved independently from traditional market trends, it quickly reverted to being correlated with the stock market. Despite a brief decoupling period in early April due to global market concerns triggered by tariff measures announced by US President Donald Trump, Bitcoin's correlation with equities resurfaced as the month progressed.

Bitcoin experienced a 13% gain in April, surpassing losses in the NASDAQ and the flat performance of the S&P 500. Despite short-term fluctuations, VanEck notes a potential structural shift in the interest of sovereigns and institutions towards Bitcoin as a store-of-value asset with long-term hedging capabilities.

The report also highlights a significant increase in corporate Bitcoin accumulation during April, with notable acquisitions by companies like Strategy, Metaplanet, and Semler Scientific. Additionally, new players like Softbank, Tether, and Cantor Fitzgerald have ventured into Bitcoin accumulation through 21 Capital.

While Bitcoin showed resilience amid monetary uncertainty, the wider altcoin market faced challenges, with declines in speculative tokens. Solana emerged as a standout performer, while Ethereum faced a decrease in fee revenue share.

Overall, despite not completely breaking away from traditional market behaviors, Bitcoin's strong performance in April suggests a potential shift towards long-term decoupling from risk assets.