As Bitcoin's journey unfolds in the shifting sands of late 2024, its once-tight dance with traditional equity indices like the Nasdaq and S&P 500 is loosening its grip. This change, driven by macroeconomic twists and turns in the US political and economic landscape, is reshaping how Bitcoin is perceived — not just as a tech-driven risk asset, but perhaps as something else entirely. As the dollar's influence wanes and Bitcoin's path converges with gold, one has to wonder: Is Bitcoin being embraced as the new "digital gold"? Discover what this means for Bitcoin's future...
Bitcoin and gold draw closer as correlation with dollar and equities weakens Bitcoin and gold draw closer as correlation with dollar and equities weakens
The "digital gold" narrative resurfaces as Bitcoin drifts from Nasdaq and S&P 500.
3 min read
Updated: Feb. 18, 2025 at 5:06 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
