Bitcoin is at the verge of decentralized currency with the potentialities of fluctuating known as volatility which the value of the currency goes UPs and DOWNs with the statistics of instabilities value rate.
The inflation in Bitcoin is an occurance based on when the supply is increasing over time. Apparently, the inflation nature of Bitcoin is not affected as a caused of economic breakdown such as that which has effect on the stock and the real estate investments.
I believe the Bitcoin on the other hand is affected by an economic breakdown. It may look like Bitcoin resist when inflation hits the economy but the longer this inflation surge stays, the more noticeable the effect of it on Bitcoin. This kind of effect is hidden by the high volatility nature of Bitcoin because people think that the sudden drop of Bitcoin is normal because of its high volatility being a decentralized nature. As one of the replies stated, having an economic breakdown decreases the capability of people to buy Bitcoin, and if they have Bitcoin, they might tend to sell it to make up for their financial shortage, thus the bitcoin market will have more supply than demand lowering its market value.
I'm going to try and explain it this way. Imagine 10 years ago you had $5,000 and you decided to save in a bank. Based on inflation rate today, the 5k will not have enough purchasing power because commodities are on the high side. But if you'd bought Bitcoin with 5k in 2014 at $1000, you'd have 5 BTC which in today's market value should be around $235,000. So bitcoin is seen to be an edge over inflation in long term because as the price of commodities are increasing, the price of Bitcoin is also increasing.
But what about if it goes the other way around? If someone bought Bitcoin last 2021 when the market is at its peak then we can say that the logic you stated can't be applied to that situation. So I believe bitcoin being a hedge against inflation is situational.