Bitcoin Surges Above $80,000 as Dollar Weakens
In August 2026, Bitcoin and gold rallied together as the dollar weakened, sparking renewed debate over their relationship. Historically, the two assets have been compared due to their perceived store of value characteristics. However, recent performance shows a significant gap between them.
Bitcoin surged above $80,000 on August 25 after gaining 28% in the month, outperforming gold's three-month high reached in the same period. The divergent paths suggest that their correlation is not automatic and depends on various factors such as liquidity or crypto-specific news.
The largest driver of Bitcoin's price now lies in market structure rather than macro conditions. US spot funds recorded $1.92 billion of net inflows in the week through August 21, with cumulative net inflows since launch reaching approximately $54.1 billion by August 24, according to Farside Investors.
Gold, on the other hand, has a long-standing record and broad liquidity, attracting demand from central banks and households. Its fixed supply and lower volatility set it apart from Bitcoin, making them distinct assets within the store of value debate.