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Spot gold has recorded a new all-time high, sparking debate over whether Bitcoin could follow this historical correlation.
On the 10th of April, gold surged 3% to hit an all-time high, trading at $ 3,160 per ounce as the market recovered. Following Trump tariffs and market chaos, investors seem to hedge their capital against inflationary policies associated with the current global economy.
Historically, Bitcoin tends to follow suit once gold surges. With BTC facing price volatility, traders wonder whether the “digital gold” will behave similarly.
Why BTC could mirror gold’s rally
Bitcoin’s price has fluctuated significantly in the past 24 hours. Looking at its technical set-up on the weekly chart, a price correction is possible if BTC fails to hold its bullish momentum. This could lead to a retest of its $75-71 support zone before rallying to mirror gold’s trend in the long run.
As the crypto market attempts to recover, digital assets may face price volatility. As a result, BTC could attempt to “shake weaker hands” before assuming gold’s momentum.
