Gold prices have continued to climb to new heights. Bitcoin has dropped sharply over the past month—all while geopolitical risk and President Trump's aggressive new trade policy rock financial markets.
Despite often being described as a form of "digital gold," Bitcoin hasn't been trading much like the real thing. Instead, it's trading in line with U.S. equities—especially tech stocks—as macroeconomic uncertainty spooks traders.
However, gold has always been a valuable metal. You can also find out more about the following: Safe-haven assets, Tuesday Come and see us at the following: After the recent price increase, a new high of over $3.047 per ounce was reached. The latest news Israel broke its ceasefire agreement with Hamas.
CoinGecko’s data shows that Bitcoin has fallen by almost 3% in the last 24 hours. Shown Below. In the past few months, things have gotten even worse. The value of the asset dropped by 15%.
Bitcoins are currently priced at $81,967, which is almost 25% less than their all-time record high price of $108,786 they reached on the day that President Trump won the election. Inauguration of the new year.
The new commander of the chief ran a campaign to support digital assets and reduce regulations.
And while the president has stuck to his promises so far—signing an executive order to establish a strategic Bitcoin reserve, among other pro-crypto moves—the unpredictable announcements of tariffs on major trading partners frightened traders and led to a sell-off of "risk-on" assets, with Bitcoin and top Nasdaq-listed tech stocks included.
Bitcoin's price has in the past moved in line with gold. The price of bitcoin has historically moved along with the gold. Banking crisis of 2023, the biggest cryptocurrency's correlation with tech stocks dropped, and it started to move with the precious metal as speculators flocked to store-of-value investments.
Bloomberg ETF analyst Eric Balchunas explained that it may not be true today. Decrypt The asset needs more time to develop into something that has more predictable market movement.
"It's too young to be settled down," he said. "Because it's got all this potential growth baked into it, I think it just acts like a tech stock."
Will the orange coin eventually reach its potential as the "digital gold" its proponents describe it as? At least for now, they're still acting like very different assets.
Edited By Andrew Hayward
