Bitcoin has delivered the strongest 60-day returns following major global disruptions since 2020, outperforming both equities and gold across several high-volatility periods.
The top digital asset posted an average 37% two‑month return across events since 2020, versus 3.5% for the equity gauge and 6.2% for gold.
BlackRock data shared by Bitcoin analyst and Marathon Digital advisor Sam Callahan breaks down the performance of the S&P500, gold, and Bitcoin after historical global crises.
During the 60 days following the U.S.–Iran escalation in January 2020, Bitcoin rose 20%, while the S&P 500 fell 7% and gold gained 6%.
In the same timeframe after the COVID-19 outbreak was declared in March 2020, Bitcoin climbed 21%, reversing a steep initial 25% drop over the first 10 days. Meanwhile, the S&P 500 and gold recorded 2% and 3% gains, respectively.
| Event | Date | SPX (10D) | Gold (10D) | BTC (10D) | SPX (60D) | Gold (60D) | BTC (60D) |
|---|---|---|---|---|---|---|---|
| U.S.–Iran Escalation | Jan. 3, 2020 | 2% | 0% | 12% | -7% | 6% | 20% |
| COVID Outbreak | Mar. 11, 2020 | -20% | -9% | -25% | 2% | 3% | 21% |
| 2020 U.S. Election Challenges | Nov. 3, 2020 | 7% | -1% | 19% | 12% | -1% | 131% |
| Russia’s Invasion of Ukraine | Feb. 24, 2022 | 1% | 2% | -6% | 3% | 9% | 15% |
| U.S. Regional Banking Crisis | Mar. 9, 2023 | -2% | 10% | 25% | 4% | 11% | 32% |
| Yen Carry Trade Unwinding | Aug. 5, 2024 | 2% | 0% | 0% | 7% | 9% | 3% |
| Trump’s “Liberation Day” | Apr. 2, 2025 | -7% | 7% | 0% | (-5.72% 15D) | (+6.80% 15D) | (-0.34% 15D) |
Following the U.S. election challenges in November 2020, Bitcoin surged 131% in 60 days. This compared to a 12% rise in the S&P 500 and a 1% decline in gold. The period included heightened uncertainty around the electoral process and stimulus negotiations.
After Russia invaded Ukraine in February 2022, Bitcoin returned 15% over 60 days. Gold outperformed equities, gaining 9% versus the S&P 500’s 3% uptick. Bitcoin initially fell 6% in the first 10 days before recovering.
The March 2023 U.S. regional banking crisis also saw a sharp move in Bitcoin, which gained 32% in 60 days. Gold rose 11%, while the S&P 500 climbed 4%. This period included liquidity concerns and institutional fallout.
In contrast, Bitcoin’s response to Japan’s Yen carry trade unwinding in August 2024 was muted, rising just 3% in 60 days. Gold gained 9%, and the S&P 500 added 7%.
Thus, data shows Bitcoin repeatedly recovering faster and outperforming other assets across major market dislocations, particularly within a two-month window.
The 60‑day mark for tariffs announced on “Liberation Day” arrives Jun. 1; Bitcoin is flat over the first 15 days, with the S&P 500 down 5.72% and gold up 6.8%.
After 60 days, Bitcoin has only underperformed gold once in 2024 during the Yen carry trade unwinding.
The post Bitcoin historically the best performing asset 60 days after major global crisis appeared first on CryptoSlate.
