Bitcoin’s “hedge” narrative is dead, as speculative price action continues

Key TakeawaysCrypto has risen to start the year off the back of expectations that interest rates may be cut sooner than anticipated
This contrasts with the view that crypto is uncorrelated, proving it false
Assessing the price action of crypto through the pandemic and subsequent rate-raising cycle shows an extremely risky asset class that moves in line with other speculative asset classes
Over the last couple of months, markets have turned green off the back of inflation data softening around th