@isaacchrist
During recessions, Bitcoin's correlation with the S&P 500 often increases, showing synchronized declines (e.g., -65% vs. -35% in the COVID crash), suggesting it behaves like a risk asset rather than a safe haven. Its correlation with gold varies, sometimes rising (e.g., 0.65 recently) but historically remaining low or negative, especially during market stress, as gold acts as a traditional hedge while Bitcoin's role remains inconsistent.
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