Just like gold, in fact, during a recession and bank failures Bitcoin may just perform very well, because it has limited quantity, it is decentralized, and it is relatively decorrelating from traditional financial markets.
You've just answered the question yourself OP, During the COVID-19, the world experience challenges, there was less productivity, there was less import and export, in fact in recent times, that has been one of the greatest challenge humanity has faced across the globe simultaneously, yet Bitcoin was still able to strive and flourish, so Bitcoin will graciously survive any economic situation, the Decentralized nature of Bitcoin has always been the ground breaking advantage.