Bitcoin Holds Near $111K as Traders Weigh China Retaliation, Risk Appetite Cools

Analysts note that Bitcoin’s correlation with gold is at a multi-year high of 0.9, reinforcing the “digital gold” narrative as both assets move in tandem during geopolitical shocks.

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This highlights a growing perception of Bitcoin as a safe haven asset, akin to gold, particularly in times of geopolitical uncertainty. As both assets respond similarly to market stress, it suggests that investors may increasingly view Bitcoin not just as a speculative investment, but as a legitimate store of value. This shift could reshape sentiment in the crypto market, influencing both institutional and retail investment strategies moving forward.