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Bitcoin Not Yet Performing Like Digital Gold — Market Talk

Grade Bbearish AI signal$BTC$XAU
Bitcoin is struggling to establish itself as digital gold, with its continued high correlation to equities undermining its safe-haven narrative, according to Citi's head of asset allocation. Bitcoin is down 1.1% to $73,499 and 16% year to date, while gold has declined 7% over the same period. Bitcoin could eventually strengthen its role as a hedge against currency depreciation, but that transition may depend on its correlation with gold rising and its correlation with equities falling.

Bullish strength: 20/100

  • Citi expects Bitcoin could develop into a hard asset and hedge against fiat currency depreciation over five to ten years.

Bearish strength: 80/100

  • Bitcoin's high correlation with equities undermines its digital gold thesis.
  • Bitcoin is down 16% year to date.
  • Bitcoin is down 1.1% to $73,499.

This is automated NewsSignalsAI analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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Bitcoin Not Yet Performing Like Digital Gold — Market Talk

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