Global Growth Concerns Undermine Bitcoin’s Hedge Narrative

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S&P 500 Index 40-day correlation vs. Bitcoin/USD. Source: TradingView

Economic stress outside the US is adding pressure to Bitcoin’s price action. Japan’s economy contracted in Q3, while rising government bond yields highlight growing instability in a major global market. Combined with softer US labor data, these developments are pushing investors toward traditional safe havens rather than crypto. Although Bitcoin’s correlation with equities has declined, weaker global growth and rising risk aversion suggest BTC may struggle to act as an effective hedge in the near term.

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When things get shaky people still run to bonds and gold not crypto yet