According to CryptoQuant, in the current risk-averse environment, investors seem to prefer traditional safe-haven assets such as gold rather than bitcoin (BTC). CryptoQuant data shows that the correlation between bitcoin and gold has recently declined significantly. The price of gold has recently reached a new high of over $2,500 per ounce, while bitcoin has been falling and is currently more than 20% below its historical high of over $73,000 set in March. Investors have been buying gold and selling bitcoin, and the US stock market has also struggled, with the S&P 500 index falling 3.6% since August 30th. CryptoQuant notes that the decline in the price of bitcoin is accompanied by a decline in the US dollar index, which is another indicator of broader risk aversion and uncertainty.