Bitcoin Turns Positive for 2025, Strengthens Digital Gold Narrative

Bitcoin (BTC) flipped back into positive territory for the year, climbing toward $95,000 and erasing earlier losses of up to 18%. The cryptocurrency is now up about 1.5% since Dec. 31, outperforming the Nasdaq 100, down more than 7%, but still trailing gold's 24% gain.

Correlation data points to a shift in sentiment. Over a 30-day moving average, Bitcoin’s correlation with gold has strengthened to 0.70, while its link to the Nasdaq 100 has weakened to 0.53, suggesting BTC is moving closer to acting like digital gold rather than a speculative tech asset.

The rebound marks Bitcoin’s strongest weekly gain since mid-November, when prices surged after President Donald Trump's election victory.

Broader market anxiety is adding fuel. Trump's tariffs, now raised to 145% on Chinese imports, are squeezing supply chains again, with major retailers like Walmart warning of potential shortages and price hikes similar to the COVID-era disruption.