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COINTURK NEWS > Bitcoin (BTC) > Gold’s Surge Sparks New Interest in Bitcoin as Safe Haven Investments
Bitcoin (BTC)

Gold’s Surge Sparks New Interest in Bitcoin as Safe Haven Investments

In Brief

  • Capital is flowing into safe havens as risk appetite declines.

  • Gold's rise may lead to renewed interest in Bitcoin.

  • Technical indicators suggest potential shifts in market dynamics.

İlayda Peker
İlayda Peker 3 weeks ago
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As risk appetite declines in global markets, capital is shifting toward safe havens. The message of increased volatility from Federal Reserve Chairman Jerome Powell has resulted in a mandatory liquidation of $1.5 trillion in the stock markets. This development has turned attention back to the gold market. With a weakening US dollar and rising inflation expectations, gold has become a favored asset for investors. The surge in gold prices has led many to look at Bitcoin (BTC) $103,061.

Contents
Gold Rally Gains MomentumGold’s Ascent May Present Opportunities for Bitcoin

Gold Rally Gains Momentum

On Wednesday during the North American session, gold prices rose by more than 3%, reaching $3,337. This increase continues the bull market that began in October 2023 and is driven by increased purchases from global central banks, particularly in China. Gold is entering a long-awaited price discovery process.

The prolonged negotiations over the trade war and rising uncertainties are prompting investors to seek safe assets. In recent weeks, both institutional and individual investors have pulled their capital into less risky areas, increasing their gold positions. Notably, technical indicators show the Relative Strength Index (RSI) has slightly retracted from 93 to 83, indicating that prices may be nearing a peak.

Market assessments suggest that gold could hit $3,500 per ounce in this cycle. However, surpassing this target is believed to depend on the depth of the trade war and the stance of central banks.

Gold’s Ascent May Present Opportunities for Bitcoin

With gold’s rise, attention has once again shifted to Bitcoin. Having earned the title of “digital gold” over the last decade, Bitcoin emerged after the 2008 financial crisis and proved its worth during the Covid-19 pandemic. The Fed’s classification of Bitcoin as “digital gold,” and its non-competitive stance against the dollar, has increased interest in this asset.

Gold Price and Bitcoin

The U.S. government, under Donald Trump’s leadership, is considering Bitcoin as a potential economic tool to alleviate its massive debt burden. This has led to Bitcoin being discussed more frequently in geopolitical contexts.

Historical data indicates that Bitcoin’s price typically experiences similar parabolic increases during strong rallies in gold. Bitcoin currently appears poised for such a leap technically. As gold approaches its peak, Bitcoin is expected to gain similar momentum, albeit with a slight delay.

Investors may view this correlation as an opportunity to reshape their portfolios. However, high volatility in the cryptocurrency market necessitates careful consideration when making moves.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 17 April, 2025 - 1:10 pm 17 April, 2025 - 1:10 pm
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By İlayda Peker
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