Bitcoin is trading near $87,700, down sharply from its October peak, as investors reassess its role during a year defined by geopolitical stress and defensive positioning. While Bitcoin has long been pitched as “digital gold,” 2025 tells a different story. Spot gold has surged roughly 70% year to date, while Bitcoin is down about 6%.
That divergence matters.
In an environment of elevated geopolitical risk, tariff uncertainty, and persistent fiscal deficits, investors clearly preferred physical hedges over crypto exposure. The narrative of Bitcoin as a reliable store of value has weakened, at