Bitcoin is rapidly losing its status as a safe heaven asset. Especially in the last days, when investors are running away from risky assets and the crypto market has joined the slaughter.
Last month, Bitcoin rallied as global stocks sank, but now the biggest digital currency is joining the mass risk off. The price of Bitcoin has fallen below $ 10,000 for the time being, keeping it above that level is difficult. Index correlation is already broken.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
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