Bitcoin (BTC) continues to hover near $80,000, but analysts warn that a key shift could be on the horizon. Recent market turbulence, triggered by Trump’s tariff announcement, has seen BTC drop over 5%, reigniting debates over its status as “digital gold.” Meanwhile, traditional gold remains the preferred safe haven for investors, outperforming Bitcoin in uncertain times.

Is Bitcoin Still a Store of Value?

Crypto bulls have long argued that Bitcoin is a non-correlated safe-haven asset, much like gold. However, recent events challenge this claim.

“This moment feels like a turning point,” said Joel Kruger, market strategist at LMAX Group. While major stock indices, including the Nasdaq and S&P 500, have hit new lows for 2025, Bitcoin is still above its year-to-date bottom of $75,000—a technical sign of strength.

Yet, Javier Rodriguez Alarcon, chief commercial officer at XBTO, sees it differently. “In reality, Bitcoin still moves in sync with broader risk markets during times of uncertainty,” said the ex-Goldman Sachs executive.

Gold vs Bitcoin: The Safe Haven Debate

Despite Bitcoin’s resilience, JPMorgan analysts argue that gold remains the dominant safe-haven asset.

“Bitcoin’s volatility and correlation with equities weaken its ‘digital gold’ narrative,” noted Nikolaos Panigirtzoglou and his team. Gold has gained from fears of currency debasement, with prices hovering near $3,200 per ounce, while BTC struggles with macroeconomic pressures.

Bitcoin’s Floor Price Remains Intact

Even after the recent drop, Bitcoin is still well above JPMorgan’s estimated production cost of $62,000—a historical support level. Analysts suggest that this could serve as a lower boundary, providing some stability amid volatility.

What’s Next for Bitcoin?

Bitcoin’s near-term trajectory depends on whether it can break past $80K or succumb to macro pressures. With geopolitical and economic uncertainties rising, the battle between gold and BTC as the ultimate safe haven is far from over. For now, traditional investors remain loyal to gold, while crypto enthusiasts continue to bet on Bitcoin’s long-term potential.