April has been a month of extreme volatility and tumultuous times for traders.

From conflicting headlines about President Donald Trump’s tariffs against other nations to total confusion about which assets to seek shelter in, it has been one for the record books.

Amid all the confusion, when traditional “haven assets” failed to act as safe places to park money, one bright spot emerged that might have surprised some market participants: bitcoin.

“Historically, cash (the US dollar), bonds (US Treasuries), the Swiss Franc, and gold have fulfilled that role [safe haven], with bitcoin edging in on some of that territory,” said NYDIG Research in a note.

NYDIG’s data showed that while gold and Swiss Franc had been consistent safe-haven winners, since ‘Liberation Day’—when President Trump announced sweeping tariff hikes on April 2, kicking off extreme volatility in the market—bitcoin has been added to the list.

“Bitcoin has acted less like a liquid levered version of levered US equity beta and more like the non-sovereign issued store of value that it is,” NYDIG wrote.

Zooming out, it seems that as the “sell America” trade gains momentum, investors are taking notice of bitcoin and the original promise of the biggest cryptocurrency.

“Though the connection is still tentative, bitcoin appears to be fulfilling its original promise as a non-sovereign store of value, designed to thrive in times like these,” NYDIG added.

Read more: Gold and Bonds’ Safe Haven Allure May be Fading With Bitcoin Emergence

Fundstrat’s head of research Tom Lee says there are four big signs backing up the idea that the stock market is in the midst of a bullish reversal.

In a new video update on Fundstrat’s YouTube channel, Lee starts off by noting that on April 24th, a Zweig breadth thrust was triggered on the S&P 500 index.

The Zweig breadth thrust is an indicator that attempts to detect the early stages of a potential bull run by dividing the 10-day moving average of the number of advancing stocks by the total number of stocks.

Lee says that the Zweig breadth thrust has nearly always signaled imminent stock market rallies.

“That has happened 11 times since 1978 and notably, one month, six months and 12 months later, stock markets are always up. And this was triggered on April 24.”

Secondly, Lee notes that the high yield options adjusted spreads (OaS) retraced 50% of its widening on April 23rd. A shrinking of credit spreads – the difference in yield between riskier junk bonds and “risk-free” government bonds – typically signals stability and healthy investor risk appetite.

“That’s a positive development because we are now walking back from a recession risk. If high yield spreads had gone from 500 [basis points] to 1,000, a recession was guaranteed, but instead it’s reversed almost all the widening back to even levels before April 2nd.”

Lee also says that the S&P 500 saw two straight days where 90% of the S&P 500 stocks rallied, an event that has historically led to further upside.

“That means that stocks, within a couple of days apart, had posted two days where the advancing gains were 90% or more. As you can see here, three times since 1979, stocks are higher three, six and 12 months later.”

Lastly, the investor takes note of the volatility index (VIX) – a measure of market volatility based on data from the Chicago Board Options Exchange – closing below the 31 level.

According to Lee, the VIX is now signaling a drop off in future volatility and likely strength for equities.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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