Gold Drops, Bitcoin Rises — A Trend to Watch
Gold has fallen nearly 10% after hitting record highs, while bitcoin is gaining strength and closing in on $100,000 again.
As gold prices slip to around $3,200 per ounce, bitcoin has jumped about 10% in the past week to reach $97,000 — its highest in two months.
Analysts say investors may be shifting their money from gold to bitcoin. ETF data shows more money flowing into bitcoin funds than gold funds, a sign that bitcoin could be seen as the better hedge right now.
This pattern was last seen during the U.S. election, when bitcoin soared over 40% in the following months.