Bitcoin Faces Identity Crisis as Price Drops to $65k

Bitcoin's recent price drop to $65k has sparked an identity crisis within the cryptocurrency community. The largest digital currency by market capitalization has struggled to maintain its narrative as a long-term hedge against inflation, despite its initial promise of strong performance relative to traditional assets.

The issue is further complicated by the surge in gold prices, which has outpaced Bitcoin's returns over the past 18 months. According to data from TradingView, gold has risen by over 121% during this period, while Bitcoin has posted negligible gains of 5%.