A recent study has found no long-term correlation between Bitcoin and gold, challenging the notion that Bitcoin serves as a safe-haven asset similar to gold. The analysis, which included correlation and cointegration tests, revealed that Bitcoin and gold do not exhibit a stable mean-reverting or inverse structural relationship. The Engle–Granger cointegration test showed no significant cointegration, with a p-value of 0.44, indicating that the two assets do not maintain a stable long-term relationship. The study highlights that Bitcoin operates as an independent market characterized by high volatility, unlike gold, which is a mature safe-haven asset. Historical data suggests that Bitcoin's market movements are not reliably linked to gold's performance, and its price fluctuations are more closely aligned with stock market trends. The findings emphasize the importance of focusing on market-specific factors, such as derivatives structure and sentiment exhaustion, to identify Bitcoin's market bottoms, rather than drawing analogies with other asset classes.