Michael Saylor: Bitcoin’s short-term behavior reflects liquidity, not risk correlation

Michael Saylor, founder of Strategy (formerly MicroStrategy), stated on X that Bitcoin acts like a risk asset in the short term due to its high liquidity and 24/7 tradability. In times of panic, traders tend to sell what’s easiest to liquidate—such as Bitcoin—not what they necessarily want to. This doesn't suggest a long-term correlation with risk assets, but rather highlights Bitcoin’s constant availability for trading.