PANews February 11 News, according to Cryptopolitan, Grayscale in its latest research report pointed out that Bitcoin’s recent price movements are highly synchronized with technology stocks rather than safe-haven assets like gold. The report’s analysis shows that over the past 12 months, Bitcoin’s price has been closely correlated with the performance of high-valuation software company stocks. When the market sold off tech stocks due to concerns about artificial intelligence impacting traditional software services, Bitcoin also declined. This indicates that current investors view Bitcoin more as a growth asset driven by market confidence and risk appetite rather than a “digital gold” that can withstand volatility.
Grayscale believes that although Bitcoin has long-term value storage features such as limited supply and a decentralized network, compared to gold with thousands of years of monetary history, Bitcoin, which has only been around for 17 years, is still in the early stages of proving itself as a global monetary asset. Recently, when gold and silver prices rose, Bitcoin did not follow the same trend; instead, it declined in tandem with high-risk growth assets.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Analyst Predicts Bitcoin Could Slide to $44K After Sideways Phase
Analyst says Bitcoin could consolidate between $57K and $87K before the next major move.
The analyst compared the current pattern to the 2022 cycle, when Bitcoin fell 52% before another drop.
Doctor Profit expects the final bear-market bottom for Bitcoin near $44K–$50K later this year.
Bit
CryptoFrontNews11m ago
Bitcoin Retreats to $66K After Hitting $74K As Oil Shortage Trembles Market Amid Middle East Conf...
Bitcoin's recent decline to $66K, influenced by escalating U.S.-Iran tensions and oil supply disruptions, showcases its volatility. As crude prices rise, investor confidence wanes, impacting risk assets like Bitcoin. The cryptocurrency's future trajectory remains uncertain amid ongoing geopolitical unrest.
BlockChainReporter17m ago
Starcloud Targets Bitcoin Mining From Space With New Orbital Data Center Launch
Starcloud plans to start Bitcoin mining in space using solar powered orbital data centers and low cost ASIC miners.
Starcloud satellite network could support energy heavy Bitcoin mining without using power from Earth grids.
Bitcoin mining difficulty dropped to 145 trillion, which offers m
CryptoNewsLand41m ago
In the past 24 hours, the total liquidation amount across the entire network reached $314 million, with nearly 60% of the liquidations coming from long positions.
Gate News reports that on March 9, according to CoinAnk data, the total liquidation across the entire network in the past 24 hours was $314 million, with long positions liquidated at $188 million and short positions at $127 million. By individual cryptocurrency, Bitcoin liquidation was approximately $112 million, and Ethereum liquidation was about $50.51 million. Notably, the on-chain synthetic oil asset XYZ:CL ranked third in liquidation amount, approximately $55.36 million.
GateNews1h ago
