Bitcoin News Today: Bitcoin Lags as Gold and Copper Soar on AI and Macro Fears

Bitcoin has fallen behind both gold and copper in 2025, failing to capitalize on the dual forces of macroeconomic fear and AI-driven optimism that have boosted tangible assets according to analysis. Gold, a long-standing safe haven, has surged 70% to a record $4,450 per ounce, while copper, a key barometer of global economic health, has gained 35% according to data. In contrast, Bitcoin has declined by 6% year-to-date, outperformed even by traditional assets like the S&P 500 and Nasdaq, which have risen by 17% and 21% respectively according to reports.

The underperformance of Bitcoin highlights a broader shift toward assets seen as more resilient or directly tied to real-world economic activity. Investors have increasingly favored gold for its role as a hedge against systemic risks and fiat currency devaluation, while copper has benefited from its dual role as an industrial commodity and a key input in AI infrastructure according to analysis. This divergence suggests that the market is reevaluating the role of digital assets like Bitcoin in a landscape defined by both macroeconomic uncertainty and technological transformation.

The shift toward tangible assets has been particularly pronounced in late 2025, with gold and copper outpacing all other major asset classes. The S&P 500 and Nasdaq, for example, have gained 17% and 21% respectively, while the 10-year Treasury note has fallen by 9% and the U.S. dollar index has dropped nearly 10% according to market data. This dynamic reflects a broader market conviction that hard assets and industrial materials will outperform traditional financial instruments in a world grappling with geopolitical tensions, inflation, and the rapid deployment of AI technologies.

Why the Standoff Happened

The underperformance of Bitcoin is notable because it has traditionally been viewed as a digital equivalent to gold, especially during periods of macroeconomic stress. However, in 2025, investors appear to have favored physical gold over Bitcoin, with central bank purchases playing a key role in the metal's ascent. The World Gold Council reported that global central banks purchased 254 tons of gold from January to October, driven largely by Asian demand and concerns over currency devaluation. In contrast, Bitcoin has struggled to attract similar institutional support, despite a more favorable regulatory environment under the Trump administration and the rising prominence of digital assets.

At the same time, copper has benefited from both the energy transition and the AI boom. The metal is essential for electric vehicles, grid infrastructure, and AI hardware, and its demand has surged as governments and private firms push for green and digital transformation. Geopolitical factors have also supported copper prices, with supply constraints and mining outages contributing to tight markets. For investors, this combination of growth and scarcity has made copper an attractive bet, especially in an environment where AI adoption is accelerating.

What Analysts Are Watching

Market participants are closely watching whether Bitcoin can regain its position as a digital haven asset in 2026. Some analysts believe the cryptocurrency is building momentum, citing historical patterns where Bitcoin outperforms after periods of consolidation. Lewis Harland of Re7 Capital noted that Bitcoin's current pause mirrors gold's consolidation in the summer of 2025, suggesting that both assets could see renewed strength as global fiscal pressures intensify. However, for Bitcoin to fully recover, it may need greater institutional adoption and a sovereign-level push for digital assets, which are still largely viewed as speculative rather than foundational.

Meanwhile, gold's continued dominance points to a deeper skepticism toward fiat currencies and a flight to tangible assets. Investors are increasingly pricing in risks of currency debasement, geopolitical instability, and rising fiscal deficits, which have driven demand for both gold and copper. This dual dynamic-where the market is simultaneously betting on growth and fearing collapse-has led to a record-low copper-to-gold ratio, signaling a fragile global economy driven by AI but constrained by systemic risks.

Risks to the Outlook

Bitcoin faces several challenges as it seeks to reposition itself in the current market environment. One key issue is its lack of sovereign demand, which has allowed gold to outperform. Greg Magadini of Amberdata noted that gold is still the preferred hard asset for central banks and sovereign actors, while Bitcoin remains a more speculative hedge for individuals and institutions. Without broader adoption by central governments or a shift in investor sentiment, Bitcoin may continue to lag in a market increasingly focused on real-world assets.

For copper, the risks include potential supply disruptions and slowing demand from the energy transition. While AI and electrification have driven strong growth in the red metal, any slowdown in global economic activity or technological adoption could temper its upside. Investors will be watching for signs of overheating in the copper market and whether demand can be sustained as AI deployment scales.

What This Means for Investors

The current environment offers divergent opportunities for investors. Gold and copper have proven their resilience and relevance in a world of macroeconomic uncertainty and technological transformation. For gold, the key is its role as a long-term store of value and hedge against fiat devaluation. For copper, the focus is on its essential role in AI infrastructure and green energy, making it a growth-driven bet.

Bitcoin, on the other hand, remains a speculative asset with high volatility and uncertain institutional backing. While some analysts remain optimistic about its long-term potential, the current underperformance suggests that it has yet to establish a dominant role in the market. Investors may choose to allocate to both gold and copper as a way to hedge against both systemic risk and growth opportunities, while keeping a cautious eye on Bitcoin's trajectory.