BIS analysis of BIS: Bitcoin usage grows against the trend under global economic pressure

At a time when the global economy is generally facing uncertainty, the Bank for International Settlements (BIS), known as the "central bank of central banks", released a latest report, finding that when the traditional financial system is under pressure, the use of Bitcoin is showing a significant upward trend, which seems to indirectly prove that Bitcoin plays the role of a "digital safe haven".

Bitcoin usage grows against the trend under economic pressure

By analyzing Bitcoin’s on-chain transaction data, number of active addresses, and user holding behavior, the BIS report clearly pointed out that during the period of economic pressure, Bitcoin’s trading activities, especially the increase in on-chain activity and the shortening of average holding time (meaning more frequent transfers and use), have all grown clearly.

This discovery poses a strong challenge to the previous view that Bitcoin is only a pro-cyclical volatility asset.

Bitcoin’s risk-averse potential and market positioning

Safe-haven assets in the traditional sense, such as gold or sovereign bonds in a specific country, are usually sought after by investors when market turmoil or economic outlook is unclear because they are generally believed to be able to better preserve value or hedge potential risks. Whether Bitcoin really has the characteristics of "safe-haven assets" has always been the focus of market discussion.

Although the BIS report does not directly define Bitcoin as a traditional safe-haven asset, such a highly credible top financial institution in the world has confirmed Bitcoin's special market performance and counter-cyclical growth model under specific economic pressure environments through solid data, which undoubtedly provides a new interpretation dimension for understanding its market performance.

However, we must also be clear that challenges and uncertainties are still the main themes of the cryptocurrency market. Especially in the context of the increasingly complex and changing global economic structure, the future evolution path of the Bitcoin market still needs to be observed continuously and prudently.

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