Bitcoin hit a multi-month high this week, surpassing 82,000 dollars after being stuck between 60,000 and 70,000 dollars since early June. The 90-day correlation between Bitcoin and gold has reached a near six-year high, signaling that investors are turning to the leading cryptocurrency as a safe haven amid currency debasement risks. Bitwise’s director of research for Europe, André Dragosch, noted that Bitcoin now resembles an amplified version of gold in these market conditions. However, some analysts, including Alex Thorn from Galaxy, predict a potential bear market bottom between 40,000 and 46,000 dollars by late 2026, based on the four-year cycle theory linked to Bitcoin’s halving events.
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