Despite adoption trends, Deutsche Bank says neither Bitcoin nor gold will supplant the USD

September 23, 2025
-FXnews

Bitcoin’s price surge past $123,500 in mid-August coincided with one of the calmest stretches in the token’s history, Deutsche Bank said in a note, highlighting what could be an important shift in how the cryptocurrency trades.

The bank pointed out that 30-day volatility fell to just 23% in August, a historic low, even as the token hit fresh all-time highs on August 15. “This combination suggests we may be witnessing the start of a gradual decoupling between Bitcoin’s spot prices and volatility,” analysts wrote, adding that growing portfolio integration could mark a step beyond speculative trading cycles.

Deutsche Bank cautioned that neither Bitcoin nor gold is on track to supplant the U.S. dollar as the world’s reserve currency

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