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Despite the market turbulence, Bitcoin demonstrated significant resilience in the preceding week, managing to hold its ground where traditional markets struggled. Traders noted that Bitcoin's ability to maintain its value amidst widespread equity market fluctuations was noteworthy, with the cryptocurrency rising approximately 56% over the week.

Andy Bear, managing director of CoinDesk Indices, discussed Bitcoin's performance, explaining the unique challenges traditional investors faced when trying to hedge against market volatility. With the VIX index reaching extreme levels and typical safe havens like U.S. Treasuries failing to provide stability, Bitcoin emerged as a surprisingly reliable asset.