PANews reported on April 4 that according to The Block, Standard Chartered Bank created the hypothetical "Mag7B" index last week, exchanging Tesla for Bitcoin, and now calls Bitcoin a "strongman" because it has performed better than most technology stocks in the recent market sell-off. Jeffrey Kendrick, global head of digital asset research at Standard Chartered Bank, said that traditional financial markets have generally suffered a sell-off driven by US President Donald Trump's tariffs, while Bitcoin has shown strength and can now be seen as a hedge against "US isolation."
“Bitcoin is proving itself to be the best technology (when stocks go up, Bitcoin has upside potential) and a hedge in multiple scenarios.” “Today, Bitcoin has a good chance of breaking the key $85,000 level after the jobs data. This would start a return to the pre-tariff level of $88,500 starting Wednesday, and possibly this weekend.”
