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Bitcoin and Gold: A Tale of Two Assets

Gold has continued to soar to new heights, while Bitcoin has dropped sharply over the past month, all while geopolitical risk and President Trump’s aggressive new trade policy rock financial markets.

Gold: The Traditional Safe-Haven Asset

Gold, which has traditionally held a status as the safe-haven asset, hit a new record price above $3,047 per ounce following news that Israel had broken its ceasefire with Hamas.

Bitcoin: The Digital Alternative

By contrast, Bitcoin is down by nearly 3% over the past 24 hours, according to CoinGecko data. And over the past month, the picture is even bleaker: The asset has nosedived by more than 15%.

Bitcoin’s Uncertain Future

Bitcoin is currently trading at $81,967 a coin, nearly 25% below the all-time high mark of $108,786 it hit the day President Trump was inaugurated.

The new commander in chief campaigned on helping the digital asset industry and slashing 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.

A Tale of Two Markets

Bitcoin’s price has in the past moved in line with gold. During the 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.

Will Bitcoin Reach Its Potential?

“It’s too young to be settled down,” said Bloomberg ETF analyst Eric Balchunas. “Because it’s got all this potential growth baked into it, I think it just acts like a tech stock.”

Conclusion

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.

FAQs

• What is the current price of gold? $3,047 per ounce
• What is the current price of Bitcoin? $81,967 a coin
• What is the current market trend for Bitcoin? Down by nearly 3% over the past 24 hours and over 15% over the past month
• What is the current market trend for gold? Soaring to new heights, reaching a record price above $3,047 per ounce
• What is the relationship between Bitcoin and tech stocks? Bitcoin is currently trading in line with US equities, especially tech stocks, as macroeconomic uncertainty spooks traders
• What is the current status of the digital asset industry? Uncertain, with unpredictable announcements of tariffs on major trading partners and a sell-off of “risk-on” assets