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@ Seth Michael Steele
2025-04-22 23:47:05
Bitcoin’s recent behavior has been strange; acting both like a risk asset and a safe haven. Somehow, it’s pulling off the best of both worlds, driven by global sentiment. I wish I were joking, but it’s real.
Its 30 day correlation with the S&P 500 is around 65% and weakening, while Bitcoin has been outperforming during the same period. It’s not just keeping up; it’s proving to be the superior asset in the comparison.
As Bitcoin grows stronger, the dollar continues to weaken. I don’t use leverage, and I don’t wait around with dry powder for the “perfect dip.” Every dollar I can convert into Bitcoin is a win regardless of the exchange rate. I live on a frugal budget and stay productive because every bit of value I create can be stored in something that actually respects my effort.
Bitcoin’s resilience continues to surprise. Fearing a premature bear market now feels like flinching at big brother market’s shadow. Even if the price pulled back, my conviction wouldn’t change, but yeah, it would’ve felt like someone rained on the parade.
The truth is, it’s still too early for us to fully understand what Bitcoin will become. We’re all just making our best guesses. Even Bitcoin doesn’t seem to know what it is yet it’s like an infant, testing boundaries, learning its place in the world.
But that’s the beauty of it. Bitcoin is fluid: it adapts, it evolves. It moves between roles with ease, constantly challenging more stagnant assets and institutions, giving them all a run for their money. And it’s only just getting started.
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