Ruslan Lienkha, director of markets at YouHodler, said he claimed the market was undergoing a correction and could evolve into a medium-term bearish trend. "Uncertainty is reaching a localised peak, prompting traders to temporarily position squaring. Typically, the bond market, especially Treasuries, is a safe haven for investors during a period when recession expectations intensify." Asked about the viability of bitcoin as a safe haven in the current market environment, Mr. Lienkha was sceptical. "At the moment, bitcoin is definitely not a safe haven when the stock market is down," he said. "Instead, it is behaving more like a high-risk tech stock, with high volatility and price volatility, and while high volatility may lead to short-term divergences, bitcoin's medium-term performance is likely to be in line with the overall stock market trend."