BTC used to be called digital gold by everyone, believed to be a safe haven, but now it's behaving just like the stock market and tech stocks; with every little disturbance, it plunges, leaving no trace of a safe haven.

In the short term, it's just a speculative asset, with terrifying volatility; but in the long term, it has some value storage implications.

Currently, its identity is quite split. After institutions got involved, it resembles a toy for Wall Street, somewhat contrary to the initial freedom dream of retail investors.

In trade wars, bank failures, etc., gold can still hold strong, but BTC is easily swayed by emotions.

You call it a safe haven asset? I see it more as a "conditional" safe haven; at critical moments, it still depends on market sentiment.

With BTC, you need to be careful if you want to make quick money in the short term. Holding it long-term might still have potential, but don't expect it to save you.