Bitcoin hovers near $65,000 as investor frustration grows over 'disconnect' with gold

Core Insights - Bitcoin (BTC) is currently trading near $65,000, showing a significant divergence from gold, which has increased by 16% year-to-date following a 65% rally in 2025 [1][8] - Bitcoin has experienced its fourth consecutive month of losses, down 22% since the beginning of the year, while gold's performance is linked to global trade and central bank activities [1][3] Group 1: Market Performance - Bitcoin's price is down approximately 45% from its all-time high of over $126,000 in October 2025, indicating a significant downturn attributed to forced liquidations and heavy selling [4] - Ether (ETH) is also underperforming, hovering below $2,000 and showing year-to-date losses of about 30% [5] Group 2: Analyst Perspectives - Fundstrat's Sean Farrell emphasizes that while Bitcoin has a strong store of value thesis, it behaves more like a high-beta growth asset rather than a stable store of value like gold [2] - Deutsche Bank's Marion Laboure notes that the divergence in performance suggests Bitcoin is no longer acting as "digital gold," reflecting a growing pessimism among traditional investors [3][4] - Standard Chartered's Geoff Kendrick has revised year-end price targets for Bitcoin and Ether, lowering Bitcoin's target from $150,000 to $100,000 and suggesting potential further declines to just below $50,000 [5][6]