Bitcoin Overcomes Banking Crisis and Regulatory Crackdown to Post Third Positive Month

Bitcoin is set to post its third positive month in a row and best quarter in two years, despite a banking meltdown and regulatory crackdown. The cryptocurrency has gained more than 70% year-to-date, with investors seeing it as a "flight to safety" amid banking turbulence. The correlation between bitcoin and equities is at its lowest since September 2021, while its correlation with gold has risen. The Fed's potential pivot on interest rates could remove a macro headwind for crypto, but investors should still tread carefully.