Bitcoin's Scarcity Narrative Meets Stock-Like Trading in Risk Selloffs

Bitcoin (BTC) can resemble a scarce store of value and still fall with stocks when investors retreat from risk, making its supply story and its trading behavior two distinct parts of the market picture. Bitcoin's issuance follows a fixed schedule, with a cap of about 21 million coins. That limit is the basis for comparisons with gold: neither can be created without constraint. It does not, however, determine how traders price Bitcoin at a given moment. When investors become less willing to hold risky assets, Bitcoin can decline alongside equities despite its unchanged supply schedule.