Analysis: The correlation between Bitcoin and gold turns negative, and investors prefer traditional safe-haven assets

Odaily Planet Daily News According to CryptoQuant data, in the current risk-averse environment, investors seem to prefer traditional safe-haven assets such as gold rather than Bitcoin.
The correlation between Bitcoin and gold has recently fallen sharply to negative values. The price of gold recently hit a new high of more than $2,500 per ounce, while Bitcoin has been falling and is now more than 20% below its all-time high of more than $73,000 in March. As investors bought gold and sold Bitcoin, the U.S. stock market performed poorly, with the S&P 500 index falling 3.6% since August 30.
CryptoQuant's bull-bear cycle indicator has been in a bear market since August 27, when Bitcoin was trading at $62,000.

The MVRV ratio (market value to realized value) has also been below the 365-day moving average since August 26, indicating that prices may adjust further. The MVRV ratio falling below the moving average was a precursor to Bitcoin's 36% drop in May 2021. (CoinDesk)

Are you a solid investor or an income investor? If so which would you choose between gold and bitcoin?