Bitcoin News Today: Bitcoin's Digital Gold Edge as Ethereum Stumbles

Ethereum's price fell below $3,000 on Nov. 11, while Bitcoin surged toward $90,000, signaling a potential shift in investor sentiment amid a broader market realignment. The move comes as institutional players continue to explore blockchain-based solutions for asset management, with Calastone's integration of Polygon's infrastructure marking a pivotal development in tokenized fund distribution.

The price divergence between the two top cryptocurrencies has intensified in recent months. Bitcoin, which has outperformed Ethereum over the past decade, now trades at a record high, with some analysts projecting it could reach $1 million by 2030. Meanwhile, Ethereum's recent struggles reflect broader market concerns about its ability to maintain growth amid a crowded altcoin landscape. The two assets account for 70% of the crypto market's total value, making their performance a critical barometer for the sector's health.

Calastone, a global funds network processing over $328 billion in monthly transactions, has launched tokenized fund share classes on Polygon's Ethereum Layer 2 network. The integration allows asset managers to reduce settlement times and operational costs while maintaining compliance with institutional-grade standards. By leveraging Polygon's infrastructure, Calastone aims to streamline cross-border fund access and connect traditional financial markets with blockchain-based liquidity pools. Simon Keefe, Calastone's Head of Digital Solutions, emphasized that the move aligns with growing demand for "efficient, transparent infrastructure" in fund distribution.

The partnership builds on Calastone's earlier collaboration with Fireblocks, which enabled tokenization of fund share classes across multiple blockchains. These developments highlight the maturation of blockchain technology in institutional finance, with major players like BlackRock and real estate firms already conducting tokenization pilots on Polygon. The integration is expected to accelerate as more asset managers adopt on-chain solutions to access digital-first investor bases.

Bitcoin's recent resilience has reinforced its status as a "digital gold" alternative, outperforming gold as a store of value during market downturns, according to a BlackRock study. Analysts like Cathie Wood of Ark Invest have trimmed their Bitcoin price targets to $1.2 million by 2030, while Ethereum's ceiling remains lower, with Standard Chartered projecting a $25,000 price tag by 2028. Despite Ethereum's historical 637% gain from 2020 to 2025, Bitcoin's 533% rise over the same period underscores its dominance in the crypto market.

The market's focus on downside protection has also tilted in Bitcoin's favor. While Ethereum's ecosystem is more diversified, Bitcoin's track record of bouncing back from volatility has made it a preferred safe-haven asset for institutional investors. This dynamic is likely to shape the next phase of crypto adoption, with Bitcoin's staying power and Ethereum's innovation potential both playing critical roles in the sector's evolution.