Bitcoin has fallen approximately 26 % since the end of 2025, dropping from around $87,500 to roughly $64,700-$64,900 by early August, remaining well below its January peaks. Gold, by contrast, has nearly erased all its losses: starting the year at $4,321 per ounce, it surged to a high of $5,602 in late January before tumbling to an annual low near $4,170, then recovering above $4,340 by early August, leaving it roughly flat for the year. Both assets fell together in spring, yet gold’s rebound was driven by falling energy prices and a weakening US labor market, which reduced expectations of further Fed rate hikes, factors that should theoretically have also supported Bitcoin. Capital rotation toward AI-linked technology stocks is absorbing much of the demand that might otherwise have flowed into digital assets, contributing to the persistent decoupling between the two safe-haven assets. At seventeen years old compared to centuries for gold, Bitcoin has yet to demonstrate the same ability to recover once market turbulence subsides.
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