Bitcoin is a non-correlating asset. It is NOT a negative correlating asset.
Negative correlation to the stock market would mean bitcoin goes up when the stock market goes down. That is not the case for bitcoin and the stock market, for the most part they make moves independently but sometimes have correlation during a major events like a global pandemic. In this case a global event has caused almost ALL markets to crash. The only safe havens would be negative correlating assets of which bitcoin is not.
More on non-correlating assets: https://www.thebalance.com/what-is-asset-correlation-2894312
Overall bitcoin fundamentals have not changed. Once the panic is over expect the fundamentals to be a driving factor of price. See this fundamental report on bitcoin: https://cryptoeq.io/coreReports/bitcoin-abridged
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