Summary If we get a hard landing, expect speculative assets to do poorly again. For a recession, we recommend exposure to BTC-USD ETFs (short). Bitcoin historically has responded well to the 23-day moving average. Bitcoin just dropped below its 23-day moving average last week, making it a “sell”. As we move into the summer, this system has led to avoiding 17.04% drawdowns when the sell signal is right or encountering -5.59% losses when the sell signal is wrong.
