Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Futures Kickoff
Get prepared for your futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to experience risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Bitcoin hovers near $65,000 as investor frustration grows over 'disconnect' with gold
Bitcoin hovers near $65,000 as investor frustration grows over ‘disconnect’ with gold
Ines Ferré · Senior Business Reporter
Fri, February 13, 2026 at 3:34 AM GMT+9 2 min read
In this article:
BTC-USD
-2.34%
GC=F
-2.88%
ETH-USD
-1.42%
Bitcoin (BTC-USD) hovered near $65,000 on Thursday as strategists took stock of the divergence between the token and gold (GC=F).
Despite a sharp drawdown in late January, bullion has climbed 16% year-to-date, building on a historic 65% rally in 2025.
Meanwhile, bitcoin clocked its fourth consecutive month of losses in January and is currently down 22% since the start of the year.
“A lot of folks I think are frustrated by the disconnect between bitcoin and gold," said Sean Farrell, head of digital assets at Fundstrat, in a client video.
“But it’s important to remember that while bitcoin does have a store of value thesis that I think is strong and over the long term should play out, it still trades very similar to a higher beta growth oriented asset.”
Farrell pointed out that Bitcoin is about 17 years old whereas gold has existed for thousands of years. He also said he believes that bullion’s performance is linked to global trade flows, a multipolar geopolitical landscape, and price-insensitive buyers in the form of central banks.
CCC - CoinMarketCap • USD
(BTC-USD)
65,359.86 -1,566.86 (-2.34%)
As of 6:38:00 PM UTC. Market Open.
BTC-USD GC=F
Advanced Chart
The divergence between bitcoin and gold’s performance “suggests that Bitcoin is no longer acting as ‘digital gold,’” Deutche Bank research analyst Marion Laboure said in a recent note.
The analyst pointed billions of dollars in outflows from institutional exchange traded funds since the token’s October 2025 downturn.
“This steady selling in our view signals that traditional investors are losing interest, and overall pessimism about crypto is growing,” the analyst said.
Bitcoin is down roughly 45% from its all-time high north of $126,000 in October, when forced liquidations and heavy selling by large holders triggered a so-called “crypto winter.”
Selling intensified earlier this month as the token fell just below $61,000 and posted its worst daily drop since November 2022.
Ether (ETH) also hovered below $2,000 on Thursday, extending its year-to-date losses to about 30%.
On Thursday, Standard Chartered analyst Geoff Kendrick cut his year-end price targets, lowering ether to $4,000 from $7,500 and bitcoin to $100,000 from $150,000
He added that bitcoin prices could fall to just below $50,000 before rebounding.
Kendrick noted that the market currently expects no further Federal Reserve rate cuts until Kevin Warsh takes over as chair in June. “Against this backdrop, we think ETF holders are more likely to sell rather than buy the dip, for now,” he said.
Bitcoin hovered near $65,000 on Thursday as investor disappointment grew over its failure to track gold’s gains this year. Photo by: STRF/STAR MAX/IPx 2021 1/11/21 · STRF/STAR MAX/IPx
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
Click here for in-depth analysis of the latest stock market news and events moving stock prices
Read the latest financial and business news from Yahoo Finance
Terms and Privacy Policy
Privacy Dashboard
More Info