Bitcoin’s safe-haven status strengthened despite recent price crisis: Kaiko

Bitcoin has offered importantly higher returns than accepted safe-haven assets similar gold, U.S. bonds, oregon the dollar.

Data from Paris-based crypto analytical level Kaiko showed that an concern successful the apical cryptocurrency successful January past twelvemonth would person yielded much than 100% returns, portion akin investments successful golden and different assets would person generated considerably little returns during the aforesaid period.

Bitcoin Returns Vs. Gold, Others (Source: Kaiko)

“Overall, BTC offers importantly higher returns than different accepted safe-havens specified arsenic gold, U.S. bonds oregon the dollar. It has notably outperformed, attracting safe-haven flows during the U.S. banking situation past year,” Kaiko wrote successful its caller probe report.

The steadfast described a harmless haven plus arsenic uncorrelated with equities during marketplace turmoil.

BTC’s 60-day correlation with the Nasdaq 100 has importantly declined successful the past year, further bolstering the apical plus representation arsenic a harmless haven asset.

“[BTC correlation with Nasdaq 100] has been adjacent to zero connected mean since June of 2023 arsenic BTC terms movements person been driven by the hype astir spot U.S. ETFs,” Kaiko stated.

Bitcoin Nasdaq 100 correlation. (Source: Kaiko)

The increasing investors’ involvement successful Bitcoin arsenic a reliable safe-haven plus has been further propelled by influential organization entities similar BlackRock, who increasingly recognize the integer asset’s safe-haven characteristics.

Notably, a CryptoSlate report besides confirmed this marketplace dynamics. The study observed a BTC/GOLD ratio growth, showing that investors progressively preferred BTC implicit golden due to the fact that of its perceived attributes arsenic a integer store of worth and a hedge against inflation.

Meanwhile, Kaiko’s investigation follows BTC’s caller price struggles beneath $40,000 contempt introducing respective spot exchange-traded funds (ETF) successful the U.S. However, according to CryptoSlate, the apical cryptocurrency’s worth has risen by much than 3% during the past time to astir $41,150 arsenic of property time.

The station Bitcoin’s safe-haven presumption strengthened contempt caller terms crisis: Kaiko appeared archetypal connected CryptoSlate.