比特幣（BTC）徘徊在85,000美元以下，跟踪股票指數和技術領域的行為。

在過去的幾周中，領先的硬幣與黃金急劇分離，因為貴金屬創造了新的價格記錄。

The price of Bitcoin (BTC) hovered below the $85,000 level on March 13, continuing to track the behavior of stock indexes and the tech sector. The leading coin decoupled sharply from gold in the past few weeks, as the precious metal set new price records.

比特幣（BTC）的價格徘徊在3月13日的85,000美元以下，繼續跟踪股票指數和技術領域的行為。在過去的幾周中，領先的硬幣與黃金急劇分離，因為貴金屬創造了新的價格記錄。

Bitcoin decoupled sharply from gold, signaling its status as a store of value may be vulnerable to short-term fluctuations and aggressive trading. Gold set a series of new records, gaining attention from mainstream markets, while BTC continued its series of aggressive derivative trading with some spot selling pressure.

比特幣與黃金急劇分離，表明其作為價值存儲的地位可能容易受到短期波動和積極交易的影響。 Gold創造了一系列新的記錄，引起了主流市場的關注，而BTC則繼續其一系列積極的衍生品交易，並帶有某種銷售壓力。

The recent decoupling of BTC and gold made even maximalists question why the leading crypto coin was not seen as digital gold.

BTC和Gold最近的脫鉤甚至使最大化主義者質疑為什麼不被視為數字黃金的主要加密硬幣。

The fact that gold is soaring and a superior form of gold, the digital gold Bitcoin is dumping is something I will never understand.

我永遠不會理解的是黃金飛漲和一種優越的黃金形式，即數字黃金比特幣正在傾倒。

I know Bitcoin trades like a tech stock, but I'll never be able to understand the reasoning for it.

我知道比特幣像科技股一樣的交易，但是我永遠無法理解它的推理。

— WhalePanda (@WhalePanda) March 13, 2025

- Whalepanda（@whalepanda）2025年3月13日

The one advantage of BTC is that it is capable of rallying more sharply and delivering higher returns for early investors. However, gold also shows it is not forgotten during periods of uncertainty.

BTC的一個優點是它能夠更加迅速地集結並為早期投資者帶來更高的回報。但是，黃金還表明，在不確定性時期，它並沒有被遺忘。

Gold crossed $20 trillion in total market capitalization. At this valuation, BTC would have to command a price of $1M per coin, a valuation that seems unrealistic during the current market downturn. Despite the initially sluggish gold appreciation compared to BTC rallies, the metal has in fact outperformed BTC and given more short-term stability.

黃金的總市值跨越了20萬億美元。在這一估值下，BTC必須指定每枚硬幣100萬美元的價格，這一估值在當前的市場低迷時期似乎是不現實的。儘管與BTC集會相比，最初的黃金升值最低，但金屬實際上表現優於BTC，並且給出了更多的短期穩定性。

Gold reaches new price records on demand for store of value

黃金達到新的價格記錄，要求存儲價值

Gold traded at $2,983.36 after the rapid expansion from March 10 onward. Geopolitical insecurity and rising demand extended gold’s gains to 34% for the past year, with even more accelerated gains in the past three months. Gold may also be vulnerable to selling and pressure from the holders of paper contracts, but for now, the market retains its momentum.

從3月10日開始迅速擴張後，黃金的交易價格為2,983.36美元。在過去的三個月中，地緣政治不安全感和需求上升將黃金的增長幅度擴大到34％，在過去三個月中的加速增長更高。黃金也可能容易受到紙質合同持有人的銷售和壓力的影響，但就目前而言，市場保留了其勢頭。

XAUUSD one-hour price chart. Source/TradingView

Xauusd一個小時的價格圖。來源/交易視圖

BTC is also capable of rapid rallies, but most of the bullish sentiment has dissipated. BTC is still widely held for the long term, but new buying does not reflect the demand for an asset to serve as a secure reserve.

BTC也能夠快速集會，但大多數看漲情緒已經消失。長期以來，BTC仍然被廣泛持有，但是新購買並不能反映對資產作為安全儲備的需求。

BTC faced downward pressure and dipped to $80,804.56 again, erasing the previous gains above $84,000. BTC remains pressured by panic sellers near the lows, as well as large daily long liquidations.

BTC面臨著向下壓力，再次下降到80,804.56美元，從而消除了以前的$ 84,000的收益。 BTC仍然受到低點附近的恐慌賣家的壓力，以及大量的每日清算。

BTCUSDT one-hour price chart. Source/TradingView

BTCUSDT價格圖一小時。來源/交易視圖

Demand for gold has spilled over to silver, trading over $34 per ounce. Silver has not yet reached its previous all-time highs of over $46 per ounce, but this time around, the rally has more consistent trading volumes.

對黃金的需求已溢出至白銀，每盎司超過34美元。白銀尚未達到以前的每盎司超過46美元的歷史高峰，但是這次，集會的交易量更高。

BTC and gold lose correlation

BTC和黃金失去相關性

During previous local price peaks, BTC reached moments when one coin could buy over 1,000 grams of gold. The recent gold rally erased that correlation, and BTC can now buy a little lower than 1,000 grams.

在以前的本地價格高峰期，BTC達到了一枚硬幣可以購買1000克黃金的時刻。最近的黃金集會消除了這種相關性，而BTC現在可以購買略低於1,000克。

In the past month, BTC has been more closely correlated with S&P500 and NASDAQ than with gold. Historically, in some periods all assets move up or down together, but this time, gold stood out and once again approached the $3,000 level.

在過去的一個月中，BTC與S＆P500和NASDAQ的相關性與黃金更加緊密相關。從歷史上看，在某些時期，所有資產都一起上升或下降，但是這次，黃金脫穎而出，再次接近了3,000美元的水平。

BTC moved in unison with stock indexes, losing its correlation to gold. | Source: TheBlock Pearson Correlation

BTC與股票指數一致，失去了與黃金的相關性。 |資料來源：The Block Pearson相關性

Gold is also showing signs of physical demand through the Comex vault, and the current rally is not speculative trading for paper contracts. The Comex vaults have reached a peak at 1,250 tonnes of physical gold delivered.

黃金還通過Comex Vault顯示出物理需求的跡象，目前的集會不是紙質合同的投機交易。 COMEX拱頂已經達到了1,250噸實物黃金的峰值。

US-based demand is also bringing physical gold into the USA from European vaults, creating an additional sense of scarcity.

基於美國的需求也將實物黃金從歐洲的金庫帶入美國，從而造成了另外的稀缺感。

At the same time, the talk of a crypto strategic reserve has slowed down, as BTC shows there are still enough sellers to depress the price. In theory, BTC is more scarce per person compared to gold, yet easily available physical gold remains limited, raising the spot price.

同時，關於加密戰略儲備的討論卻放慢了速度，因為BTC表明仍然有足夠的賣家來降低價格。從理論上講，與黃金相比，BTC每人更稀缺，但很容易獲得的物理黃金仍然有限，從而提高了現貨價格。

The crypto space has attempted to offer tokenized gold. However, the available tokens are still a niche type of asset. Tokenized gold has a valuation of only $1.8B, with most of the value carried by Tether’s XAUT token.

加密空間試圖提供令牌黃金。但是，可用的代幣仍然是一種利基類型的資產。令牌黃金的估值僅為$ 1.8B，大部分價值由Tether的Xaut代幣承載。