Gold skyrockets to new highs while Bitcoin remains stagnant, raising doubts about its status as digital gold.

In the context of increasing uncertainty in the global economy, the price of traditional safe-haven asset gold has soared to an all-time high, while Bitcoin has shown a lackluster performance and continued to move sideways. This apparent divergence has raised market doubts about the role of Bitcoin as digital gold in a safe-haven environment.

As of October 19th, gold prices continue to strengthen, while Bitcoin hovers around $107,000. Market analysts point out that gold prices are breaking historical highs every week, but Bitcoin remains stagnant. The social risk index related to Bitcoin is at a low level, and Google search volume is also stagnant, contrasting with the exuberant sentiment at the market peak.

Data shows that since January of this year, the amount of funds flowing into the gold market has far exceeded that of Bitcoin, with a difference of over 150 trillion. The total market value of gold has surged to nearly 300 trillion, while the market value of Bitcoin is about 21.5 trillion. This indicates that although the adoption rate of Bitcoin is increasing, investors still view gold as the primary safe haven during times of economic uncertainty. #BTC #ETH