Bitcoin’s price movements often trigger the “#BTCvsMarkets ” debate: is Bitcoin a diversifier, hedge, or speculative asset? Historically, Bitcoin has shown low correlation with equities, prompting investors to view it as a crisis hedge. Yet, during risk-off episodes—like the March 2020 COVID‑19 crash—Bitcoin plunged alongside stocks, undermining its safe‑haven narrative. Since 2021, regulatory news and interest‑rate shifts have driven both crypto and traditional markets, blurring their decoupling. Institutional adoption and macro catalysts (e.g., inflation concerns) now link Bitcoin more closely to broader risk assets. As crypto matures, distinguishing idiosyncratic drivers from systemic trends will define its market role.