Bitcoin is no longer an uncorrelated asset. If you are investing in Bitcoin as a hedge against the broader market, are you going to be looking elsewhere?

Source: Axios

![image](https://cdn.commonstock.com/9e712544bb1660398d9b734238568b5fc556288f13fa3db035a93d1554842da5-1220x1020.png)


Bitcoin is clearly correlated with the market. It's an high speculative way to invest money, and it is of course correlated to more speculative instruments. Thinking it was an hedge against the market was never true..