Bitcoin's performance during the past three interest rate cuts suggests that it is not a safe haven asset, The Block's research shows. In 2019, the Federal Reserve Board (Fed) cut the interest rate three times, which currently sits at 175 bps. During the three cuts, bitcoin's price did not show any significant pick-up, the research found. On the contrary, its median return across 1-week, 1-month, and 3-month lag were -5.0%, -20.9%, -11.0%, respectively. A common thesis for Bitcoin as a safe haven asset is that during macro volatility, Fed's action to step in and lower interest rates is a net positive on risk-assets ... (full story)