Forget Gold, Bitcoin is Tailing Global Equity Sentiment

Bitcoin’s correlation with Gold reached a record high at the heights of the US-Iran tensions earlier this year. As both the assets rose in tandem against the gloomy geopolitical sentiment, leading experts said the cryptocurrency is behaving like a safe-haven asset.
But heading into the second week of February, bitcoin is shifting its bias to suit a risk-on narrative. The asset so far in the week has moved in the opposite direction of Gold, almost switching sides to tail the equity markets