Bitcoin News Today: Bitcoin's Shift From Digital Gold to Stock-Like Volatility Challenges Safe-Haven Narrative
Bitcoin (BTC-USD) experienced a maximum drawdown of -93.18% as of July 2025, according to comparative data from Portfolioslab, despite a year-to-date (YTD) return of 26.69% and a 10-year annualized return of 82.20%. This stark volatility contrasts with Goldmoney Inc. (XAU.TO), which saw a max drawdown of -83.45% but a significantly lower YTD return of 11.43% [1]. The cryptocurrency's risk-adjusted performance ranks 89 out of 100, outperforming gold's 55, yet its current drawdown of -1.36% indicates a partial recovery from earlier losses [1].
The year 2025 marked a 29.89% increase in the BTC/USD exchange rate, with the highest rate reaching $123,026 on August 13 and an average of $102,591 [2]. However, Bitcoin's price trajectory diverged from gold's traditional safe-haven narrative. While gold surged to record highs above $3,470, Bitcoin's price fell from a peak of $108,000 to $76,000 by April 2025 before rebounding to $88,200 [6]. Analysts attribute this decoupling to Bitcoin's growing correlation with equities, as institutional traders increasingly classify it alongside volatile assets like the Nasdaq [4].
The U.S. Dollar Index (DXY) declined 9% YTD in 2025, historically a tailwind for BitcoinBTC--, yet the cryptocurrency posted a 6% YTD loss. This deviation reflects shifting investor sentiment amid global trade tensions and U.S. government shutdowns, which spurred capital rotation into gold and the Euro Currency Index (EXY) [6]. Binance Research noted that Bitcoin typically gains 43% during DXY drops of ≥5%, but 2025's dynamics suggest a structural shift in its market role [4].
Institutional adoption of Bitcoin ETFs accelerated, capturing $13.5 billion in net inflows in 2025-70% of gold ETFs' total inflows. By July 2025, cumulative spot Bitcoin ETF flows neared $50 billion, driven by products like BlackRock's IBIT . This momentum highlights Bitcoin's growing acceptance as a strategic asset, though its 7.34% volatility remains higher than gold's 6.26% [1].
Analysts warn of Bitcoin's evolving identity as a "stock-like" asset. Jim Iuorio of TJM Institutional Services noted that Bitcoin's sell-offs often mirror Nasdaq declines, undermining its "digital gold" narrative. Meanwhile, gold's 50% YTD rally since the 1970s underscores its enduring appeal as a hedge against dollar devaluation and geopolitical risks [5].
Despite these challenges, forecasts remain optimistic. Standard Chartered's Geoffrey Kendrick predicted Bitcoin could reach $135,000 by year-end amid the U.S. government shutdown and Trump-era crypto-friendly policies [5]. However, Bitcoin's 93.18% max drawdown and recent volatility highlight the risks of its speculative positioning in portfolios [1].
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