Gold and Bonds’ Safe Haven Status Challenged by Bitcoin’s Rise

The concept of "safe haven" assets, traditionally defined by gold and government bonds, is being challenged by current market dynamics.

Portfolio strategies have historically favored a 60/40 equity-bond split, with capital shifting to gold and bonds during market turmoil.
Bitcoin has gained over 1,000% since the COVID-19 crash in March 2020, contrasting sharply with a 50% drop in long-duration bonds and a less impressive 90% increase in gold when adjusted for monetary debasement.
Bitcoin's safe haven status is debated; in recent downturns it often performed worse than equities like Invesco QQQ ETF:

However, during the most recent tariff shock, Bitcoin dropped less than the Nasdaq, indicating potential relative strength.
NYDIG Research suggests non-sovereign stores of value like bitcoin may perform well amid geopolitical tensions and financial repression.
Traditional safe havens are underperforming against monetary expansion and rising treasury yields.
Recent market movements show Bitcoin performing comparably to gold and long-duration bonds on a risk-adjusted basis.
Historical patterns suggest that significant sell-offs in Bitcoin mark long-term bottom levels.
Current financial conditions might necessitate reevaluating what constitutes a safe haven asset, with Bitcoin emerging as a viable option due to its liquidity, neutrality, and resilience against central bank policies.

The need for a redefined understanding of safe haven assets is apparent in today's volatile environment.