One of the sharper Bitcoin takes from the final hours of March 28 came from CoinDesk.
The article argues that Bitcoin's valuation now looks more compressed than stocks, which could mean less downside relative to equities if macro stress keeps building.
Why does that matter?
Because the same report notes that higher oil and gas prices have pushed inflation expectations back up, and traders are now pricing in a nearly 40% chance of no Fed cuts this year.
That is not the kind of backdrop risk assets usually love.
And yet, the idea here is that BTC may already have absorbed enough damage that it could behave better than more expensive corners of traditional markets if things stay messy.
That is not a moonboy argument.It is a relative-strength argument.
Sometimes the bullish case is not "straight up from here."Sometimes it is simply "less vulnerable than everything else."
Do you buy that?
If April gets more macro-heavy, would you rather hold BTC or U.S. growth stocks?
Comment your answer and tell me why.