Every few months the financial press rediscovers crypto's insane volatility and pretends it's something new. A year ago, the Bitcoin price was $32K. By April it was $62K. It dropped to $31K in July. It got to $68K or so in November. Now it's $33K. Maybe this is the start of the next crypto winter but so far it's nothing unusual.

I would say that it's hard to credit the idea that Bitcoin is "the new gold" or any sort of safe haven asset. Just like the rest of crypto, it crashes when stocks crash, but harder. It's more like a high-flying tech stock.