Bitcoin’s struggles in February saw that their returns adjusted by risk were significantly weakened according to the Ecoinometrices Research Service data.
While during the past year, Bitcoin’s total returns have coincided with those of gold, a traditional asset of safe refuge, by adjusting the risk, Bitcoin is behaving more as an important stock index index index.
February hit hard risk assets. Bitcoin received a particularly hard blow for his risk -adjusted return advantage.
Looking at the 12 -month image until February, Bitcoin now coincides with gold in total returns, but sits together with stock rates in the performance adjusted to risk. pic.twitter.com/x0vsftatli
– Ecoinometry (@ecoinometrics) March 5, 2025
Risk adjusted yields measure the profitability of an asset in relation to its price changes. A higher relationship suggests strong returns with less volatility.
After a series of late violent prices changes together with the commercial war threats, the growing geopolitical tensions and the confusion of President Trump about government plans with respect to cryptography, Bitcoin is modestly lower until now in 2025. Meanwhile, gold is more than 11% of the year to date.
“Bitcoin and Gold are not completely correlated at this time, in a 20 -day mobile average within five years, it is negative,” said Coindesk analyst James Van Straten. “In general, you can see when the correlation becomes negative, this is generally when Bitcoin is in a background that can be seen in early 2023, summer of 2023, summer of 2024 and now. BTC tends to reach gold.”
The change could affect Bitcoin’s attraction to institutional investors, who often prioritize assets with favorable risk reward profiles. While Bitcoin’s long -term narrative as “digital gold” remains intact, its short -term performance suggests that it can behave more as the actions than a safe asset.
