Summary
- An analysis has emerged that institutional investors view gold futures as a safer asset than Bitcoin.
- Bitcoin has shown some rebound amid the recent tariff war's impact, with an increase in long-term holders.
- The correlation coefficient between Bitcoin and gold remains low at 0.12, raising attention on whether Bitcoin can establish itself as a safe asset.
Binance Research analyzed in a report that "despite the declining trend in gold futures prices, institutional investors view gold as a safer asset than Bitcoin (BTC)."
According to Cointelegraph, a cryptocurrency-focused media outlet, the report stated, "Almost all asset classes plummeted after U.S. President Donald Trump triggered a broad tariff war last week, but Bitcoin showed some rebound." It further noted, "The supply of investors holding Bitcoin for the long term is steadily increasing."
The report continued, "The question now is whether Bitcoin can solidify its narrative as a safe asset after the global market adapts to the tariff war." It explained, "The correlation coefficient between gold and Bitcoin has remained low at 0.12 over the past 90 days, while the correlation between cryptocurrencies and stocks is at 0.32."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
