Bitcoin has historically been positioned as a store of value, but recent market trends suggest its status is being challenged by both volatility and shifting investor sentiment. While the digital asset has experienced significant growth in the past years, it hasn’t quite met the benchmark set by traditional safe-haven assets like gold. 2023 shows a marked change; Bitcoin’s price recently surpassed $4,500, reaching an all-time high before experiencing a decline. This performance, characterized by volatility and risk-on tendencies, contrasts with gold, which has seen a remarkable increase in value, soaring from under $2,600 to over $3,165 in the last four months. 8% gain is not insignificant. Meanwhile, Bitcoin’s price has remained relatively stable, displaying an even more pronounced correlation with the stock market. This recent decoupling of Bitcoin from stock market trends has led to renewed debate about whether it can truly become a safe-haven asset like gold. 70% down from its all-time high in January, Bitcoin seems to be showing signs of independence from traditional risk-on assets while also remaining highly correlated with the stock market. The recent comments by U.S. Treasury Secretary, Scott Bessent, who has stated that Bitcoin is becoming a store of value, offer an intriguing perspective on the cryptocurrency’s growing recognition in the financial industry. However, gold’s recent price decline may be impacting Bitcoin’s performance. Gold has experienced a significant drop in the last two days, potentially offering liquidity to other assets like Bitcoin. The article explores how this could lead to Bitcoin benefiting from the shift in investor behavior, although it remains uncertain if this will significantly impact Bitcoin’s long-term value and status as a safe-haven asset. The gradual transition of Bitcoin from a risk-on asset to a safe-haven asset is unlikely to happen overnight but might take months or years to solidify its place within the financial world.