Traditional markets have continued to seek shelter as stocks plunge and bond yields reach ever lower. Gold has broken a fresh high and the currency markets are clearly flowing towards safe-haven trading.
Bitcoin however, which seemed to be participating wholeheartedly as a safe haven earlier this month is now seeing a clear divergence.
Here we can see bitcoin (in blue) since the crypto market sprang back to life on April 2nd, with gold overlayed (in orange). Notice the parting of ways over the last few days.