Bitcoin is often touted as a hedge against economic instability. But this year’s geopolitical developments have shown that traders tend to exit risky assets, including cryptocurrencies, in favor of safer alternatives during heightened uncertainty.

I think you answered your own question. Bitcoin is still seen as a "risk asset" by traders, but this is a category error.

The fact that so many people still don't understand Bitcoin, even most financial professionals, is in my opinion an opportunity for those of us who do.

Keep stackin'