AsianFin -- Bitcoin jumped nearly 7% over the past week, briefly touching $86,000 before settling around $84,000, defying the broader market downturn as U.S. equities slid and bond yields spiked.

The gains mark a strong showing for the cryptocurrency as major indexes like the S&P 500 and Nasdaq dropped to 12-month lows and yields hit levels not seen since 2007.

Crypto trading firm Wintermute highlighted the resilience, noting Bitcoin “held up relatively well… revisiting price levels from around the U.S. election period.” The firm called the move “a notable shift from its historical behavior,” where Bitcoin typically underperformed in times of market stress. Wintermute attributed the strength to growing institutional adoption and evolving investor attitudes toward digital assets.

The rally also comes as fresh economic data points to cooling inflation. The U.S. Consumer Price Index rose 2.4% year-over-year in March, but posted a rare 0.1% monthly decline—the first since May 2020. The Producer Price Index also decelerated, rising 2.7% in March compared to 3.2% in February. These figures offer signs of easing pressure on the Federal Reserve’s monetary tightening campaign.

“Despite this progress toward the Fed’s 2% inflation target, the recent escalation in global trade tensions introduced new potential inflationary risks, which are not yet reflected in March’s data,” Wintermute cautioned.

Adding fuel to the rally, corporate Bitcoin holdings rose 16% over the past month, driven by renewed interest from institutional investors looking for inflation hedges and uncorrelated assets in an increasingly volatile macro environment. The surge in demand, alongside improving inflation data, is reshaping Bitcoin’s role as a store of value—one increasingly aligned with strategic, long-term portfolio positioning.