Gold is demonstrating greater resilience than Bitcoin in the face of recent market volatility. This is according to Jurrien Timmer, Director of Global Macro at Fidelity Investments, who noted that while the precious metal closely tracks the growth of global liquidity, the pioneer cryptocurrency is experiencing erratic movements, failing to replicate the stable behavior of traditional “hard money” during this period of uncertainty.
The impact of this divergence lies in the dual nature of the digital asset. Timmer explains that, unlike gold—which functions exclusively as a store of value—Bitcoin acts simultaneously as an “aspirational hard money” and a speculative asset. Currently, the market is traversing a phase of abundant liquidity but with a clear weakness in speculative sentiment, causing Bitcoin to stall while gold reaches new highs.
Moving forward, the Software-as-a-Service (SaaS) index, which Timmer uses to gauge the appetite for tech risk, will be on the market’s radar. Meanwhile, the next step for Bitcoin to regain its bullish narrative against gold will be a revival of robust speculation capable of capitalizing on the growth of the global money supply.
Source:https://x.com/TimmerFidelity/status/2027066133946216469
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