From 2022 to 2024, gold and Bitcoin moved together as alternative assets, with gold gaining 67% while Bitcoin surged nearly 400%. However, in 2025, this relationship has broken down.
While gold has gained 16% in 2025, Bitcoin has fallen more than 6% from its January peak of $109,000. Analysts argue Bitcoin’s previous growth came from major financial firms like BlackRock entering the market, along with government backing from El Salvador and US plans for a crypto reserve. Its recent decline stems from two factors: investors selling after positive news was already reflected in the price, and Bitcoin’s continued link to Nasdaq market movements.
Meanwhile, gold’s strength reflects growing economic uncertainty, inflation concerns, and a significant shift in central bank behavior, with China, India, and Russia collectively purchasing over 1,000 metric tons annually.