Plunging Bitcoin Led the Way Up for Risk Assets Bitcoin led risk assets on the way up and may lead them back down. My graphic featuring the crypto on the same scale as the S&P 500 (times 10) indicates a down year for beta in 2026. The only annual declines for the S&P 500 total return since 2009 were in 2018 and 2022, both coinciding with down years for Bitcoin and midterm elections. What's different is striking. Surging inflation is a top election issue and stock-market volatility has rarely stayed so low alongside rapidly rising risk-metrics for gold and crude oil. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tggmhcn3n0de {BI COMD} #Bitcoin #stockmarket #gold #crudeoil @Bloomberg(Mike McGlone)