{"id":24103,"date":"2025-04-28T09:01:39","date_gmt":"2025-04-28T09:01:39","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=24103"},"modified":"2025-04-28T09:01:39","modified_gmt":"2025-04-28T09:01:39","slug":"bitcoin-turns-positive-year-to-date-as-it-veers-toward-digital-gold-narrative","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=24103","title":{"rendered":"Bitcoin Turns Positive Year-to-Date as It Veers Toward Digital Gold Narrative"},"content":{"rendered":"<div>\n<p>Bitcoin (<a href=\"https:\/\/www.coindesk.com\/price\/bitcoin\/\">BTC<\/a>) returned to positive territory for the year for the first time in almost two months, approaching $95,000 and erasing a drop of as much as 18%.<\/p>\n<p>Its current performance, up less 1.5% since Dec. 31, places it between gold, which has gained 24% and the Nasdaq 100, which is down over 7%. As a result, the narrative positioning bitcoin as either a leveraged tech stock or digital gold is leaning slightly toward the digital gold narrative. But only just.<\/p>\n<p>Analyzing bitcoin\u2019s correlation coefficients over a 30-day moving average, the largest cryptocurrency by market capitalization now shows a strong correlation of 0.70 with gold and a weaker 0.53 correlation with the Nasdaq 100. This suggests bitcoin is aligning more closely with gold&#8217;s behavior than with tech equities. Correlation values can run between 1, a strong positive correlation, and -1, a strong negative correlation.<\/p>\n<p>Last week, the bitcoin price rose 10%, its strongest performance since the week ended Nov. 17 during price run following President Donald Trump&#8217;s election victory. <\/p>\n<p>Meanwhile, Trump\u2019s tariffs continue to feed economic uncertainty. U.S. levies on Chinese goods were raised to 145% earlier this month, leading to a significant drop in cargo shipment demand, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-04-28\/trump-s-china-tariffs-set-to-unleash-supply-shock-on-us-economy?srnd=homepage-uk&amp;sref=3REHEaVI\">Bloomberg<\/a>. As noted in the report, major retailers like Walmart are warning that empty shelves and higher prices could return, reminiscent of the COVID era.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) returned to positive territory for the year for the first time in almost two months, approaching $95,000 and erasing a drop of as much as 18%. Its current performance, up less 1.5% since Dec. 31, places it between gold, which has gained 24% and the Nasdaq 100, which is down over 7%. As [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-24103","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/24103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24103"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/24103\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}