“Gold is setting new records, while Bitcoin lags behind” — this is how the current situation can be described. On August 20, gold reached $2,531.60 per ounce amid geopolitical tensions and expectations of lower interest rates in the U.S.

Meanwhile, Bitcoin, often called “digital gold,” is trading 19.8% below its peak of $73,750, reached in March 2024. Despite its scarcity, Bitcoin hasn’t attracted the expected flow of funds. Cryptocurrency supporters hope for a “paradigm shift” that will strengthen its status as a safe-haven asset, especially after recent banking crises. However, its correlation with stock markets remains high.

At the upcoming Federal Reserve meeting in Jackson Hole, Chairman Jerome Powell’s speech could influence interest rate expectations, which will also impact Bitcoin.