[Analyst: Divergence Between Gold and Bitcoin Reflects Differences in Central Bank and Retail Demand] According to a report by Cointelegraph, Stephen Coltman, Head of Macro Strategy at 21Shares, stated that the divergence in the trajectories of gold and Bitcoin by 2026 can be explained by two distinct groups of buyers. Over the past three years, the rise in gold prices has been primarily driven by central bank purchases, whereas Bitcoin is more commonly held by individuals rather than financial institutions. He pointed out that physical gold currently plays a more significant geopolitical strategic role, serving as the preferred store of value for sovereign nations to hedge against counterparty risks, making it more sensitive to deteriorating international relations. In contrast, Bitcoin is more practical for individuals, acting as an alternative "lifeline" during crises when local banking infrastructure fails, or the traditional financial system becomes inaccessible. Coltman believes that the negative correlation between gold and Bitcoin suggests that investors should hold both assets to benefit from their unique attributes.