According to CoinMeta, an analyst from Bitfinex stated that the bull market phase for Bitcoin has begun, and the correlation with gold has reached its peak. This institutional change occurs at a time when the narrative around devaluation trading has once again become a central topic, with Bitcoin beginning to be viewed as a hedging tool on par with gold to cope with deteriorating fiscal and monetary fundamentals. Bitfinex emphasizes that the correlation between Bitcoin prices and gold has evolved over time with the development of the devaluation trading narrative.