Bitcoin is finally trading like ‘digital gold’ – but only because nobody cares about crypto anymore

• The price of Bitcoin is as stable as it’s been for five years, according to one gauge.
• That’s largely because nobody is trading the token anymore.
• Investors fled crypto after a nightmarish 2022 – and bitcoin’s still way below its $69,000 record.

Bitcoin is finally behaving like gold – because interest in cryptocurrencies has dried up over the past year.

A gauge that measures the token’s 30-day volatility is trading close to a five-year low, according to a recent report by Bloomberg citing data from digital assets research firm K33.