Bitcoin is showing record correlation to equities

Quick Take

  • In the current financial crisis, Bitcoin has thus far underperformed both the S&P 500 and the price of gold
  • Bitcoin’s correlation to the S&P 500 index reached yearly highs in March amid the crisis
  • So far, in this bear market, Bitcoin has been relatively correlated and underperformed other safe-haven assets
  • Upcoming months will be crucial in proving Bitcoin’s core value proposition – that it is truly an uncorrelated safe-haven asset.
Upcoming months will be crucial in proving Bitcoin's core value proposition – that it is truly an uncorrelated safe-haven asset.

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