Bitcoin has been in a tight range between 91,000 USD and 102,000 USD, reflecting its maturity as an asset. This extended consolidation shows diminished volatility, indicating that external macroeconomic factors are influencing BTC’s performance.

BTC is now correlating more with traditional equities, especially the S&P 500, diverging from gold’s trends. Investors are increasingly viewing it as a risk-on asset, challenging its previous classification as digital gold.

Despite a modest 3.5% increase this year, BTC still falls short compared to gold, which rose 9.02% to reach new highs. This performance highlights the shifting perspectives on Bitcoin’s role in diversified portfolios.