The correlation between Bitcoin and gold has reached a 4-year low of -0.7, highlighting a significant divergence in their performance over the past six months. Bitcoin has seen a sharp decline of over 41% since September 2025, while gold has surged by 48% during the same period. This has led to a notable drop in the Bitcoin-Gold correlation, challenging Bitcoin's "digital gold" narrative. Despite Bitcoin's recent struggles, some institutions, like Emirates NBD, continue to view it as "digital gold." The bank's Chief Investment Officer, Maurice Gravier, has indicated potential interest in adding Bitcoin to their portfolio. Meanwhile, market analyst Michaël van de Poppe notes that Bitcoin's relative strength index against gold is at historically low levels, suggesting a potential for future recovery, though the timing remains uncertain.