Bitcoin Slides 50% from Peak Amid Global Fears: Why Digital Gold Theory Fails

• Bitcoin has dropped 50% from its October peak, falling below $63,000, despite rising global tensions and economic uncertainty.
• The cryptocurrency's performance contradicts the 'digital gold' theory, which posits it as a safe haven during crises, unlike actual gold which has surged.
• Bitcoin is behaving more like a speculative asset, being sold off when investors adopt a 'risk-off' stance.
• The 'Trump bump' from his crypto-friendly stance has faded, and the US Treasury confirmed no authority to stabilize crypto markets.
• Cooling enthusiasm for Bitcoin ETFs and past crashes (Mt. Gox, FTX) highlight its volatile nature, raising questions about its long-term stability.