Not always (see banking stocks vs BTC in March 2023 amid the banking crisis). There was an inverse correlation. BTC price action and correlation vs global markets really depend on circumstances and narratives. But today, I agree with you @EricBalchunas. I actually think that BSR was overly optimistic and mispriced https://www.linkedin.com/posts/eliezerndinga_this-recent-crypto-price-uptick-especially-activity-7302195880609128448-rWuz?utm_source=share&utm_medium=member_ios&rcm=ACoAABIPKgEBtUF6rQIhdZqeoekQfrqCm3NNoe4