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Bitcoin’s 2024 rally is challenging gold’s status as the ultimate safe-haven asset. With Bitcoin crossing $100K and gold outperforming the S&P 500, market dynamics are shifting. Analysts highlight a negative correlation between the two assets, sparking debates on future dominance.
- Bitcoin and gold exhibit a negative correlation, with Bitcoin's Sharpe Ratio at -0.40 vs. gold's 1.33, signaling divergent risk-return profiles.
- Whale activity near $95K shows increasing short bias, with a 93% historical correlation to Bitcoin price movements.
- Traders are split on Bitcoin's next move: consolidation or another rally, as net longs decline and shorts rise in the $92K–$95K range.
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