Bitcoin (BTC) returned to the positive territory during the year for the first time in almost two months, approaching $ 95,000 and erasing a drop of up to 18%.
Its current performance, lower 1.5% as of December 31, places it between gold, which has gained 24% and Nasdaq 100, which has dropped more than 7%. As a result, the narrative positioning Bitcoin as an leverage or digital gold action is slightly tilted towards the digital gold narrative. But just just.
Analyzing Bitcoin’s correlation coefficients in a 30 -day mobile average, the largest cryptocurrency for market capitalization now shows a strong correlation of 0.70 with gold and a weaker correlation of 0.53 with the NASDAQ 100. This suggests that Bitcoin is aligning more closely with the golden behavior than with technological actions. Correlation values can work between 1, a strong positive correlation, and -1, a strong negative correlation.
Last week, the price of Bitcoin increased by 10%, its best performance since the week ended on November 17 during the price of the race after the electoral victory of President Donald Trump.
Meanwhile, Trump tariffs continue to feed economic uncertainty. According to Bloomberg, US taxes on Chinese products rose to 145% earlier this month, which led to a significant fall in the demand for cargo sending. As noted in the report, the main retailers like Walmart warn that empty shelves and higher prices could return, reminiscent of the Covid era.
