Gold is rising while equity markets around the world and cryptocurrencies are crashing. This kind of punches a hole in the theory that Bitcoin will be considered as some kind of digital gold. There definitely is a correlation and investors are selling risky assets because the yield on treasury bonds is increasing, making them more attractive.
It is disappointing - I had thought that a drop in the stock market would see money move into Bitcoin, but that's not happening at all - everyone is going back to that old time asset: gold.
But we should make note of one thing, the old asset is not going to be blessed for long time. The gold is just temporary hype and it has never gone beyond the specific ATH every time. Government regulates it and they will apply the limits always. So we dont have to get scared out of this asset. People will buy and sell and when they will see there is no more use of that trade and the crypto's or other stock exchanges which you think are getting affected too will start rising back again. So on the positive scale im seeing this as good opportunity for those who were not able to get into crypto at lowest points. Now they can earn huge out of it by investing at this low and focus on the long term gaols.