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Benzinga
Benzinga
Business
Piero Cingari

Bitcoin's Not A Hedge Anymore—Here's What That Means For Your Portfolio

Bitcoin Dennis DeBusschere Gold
bitcoin ai

Bitcoin (CRYPTO: BTC) is behaving more like a high-beta tech stock than a hedge, with its correlation with AI equities rising to record levels during recent market drawdowns.

According to Dennis DeBusschere, analyst at 22V Research, Bitcoin’s correlation with the S&P 500 has surged to one of its highest historical readings during the nascent equity pullback.

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