As gold smashes through historical price ceilings with a record-breaking surge, Bitcoin is being left behind - for now. With inflows into gold funds surpassing $80 billion this year, the precious metal has firmly reclaimed its status as the go-to hedge against global economic instability.
But according to veteran traders and analysts, this meteoric rise may be approaching its final stages potentially setting the stage for Bitcoin to rally in its wake.
According to newly released data from Bank of America, gold is experiencing its strongest streak since 2013, with $80 billion in net inflows year-to-date - double the previous record set in 2020.
The Kobeissi Letter, which published the figures via X on April 15, highlighted that gold prices have jumped 22% in 2025 alone, outperforming every major asset class.
As of April 16, XAU/USD hit all-time highs near $3,300 per ounce, a milestone fueled by growing geopolitical tensions, rising interest in safe-haven assets, and a resurgence in institutional demand. The ongoing U.S. trade war has further accelerated the flight to gold, as investors seek insulation from macroeconomic uncertainty.
“Gold is the global safe haven,” Kobeissi wrote. “Prices have now set 52 new all-time highs in the past year - marking the strongest streak in over a decade.”
Meanwhile, Bitcoin’s narrative as “digital gold” has taken a hit. Despite the launch of U.S. spot Bitcoin ETFs and growing institutional exposure, BTC/USD recently fell to a five-month low.
Onchain analytics from Glassnode reveal that combined assets under management (AUM) in Bitcoin ETFs dropped from $106 billion at the beginning of the year to $92 billion in mid-April.
While the broader crypto market remains hopeful for an altcoin season, Bitcoin’s underperformance in comparison to gold has cast doubt on its current role as a hedge in volatile markets.
Anthony Pompliano, CEO of Professional Capital Management, commented on CNBC that traditional financial institutions may still be hesitant to fully embrace Bitcoin in uncertain times. “They’re either not authorized or not accustomed to viewing Bitcoin as a macro hedge,” he noted.
Despite its ongoing bull run, not everyone believes gold can maintain its current momentum. Renowned trader Peter Brandt suggested this week that gold has entered a “blow-off stage” - a classic market phase where prices surge parabolically before collapsing.
“Gold has now entered its blow-off stage,” Brandt wrote. “Such rapid advancement will come to a terminal top, but attempting to pick a high can be very expensive.”
This sentiment echoes a long-standing theory among some investors: when gold tops out, Bitcoin often follows with a delayed but more aggressive rally. As investor Lawrence Lepard pointed out, historical charts indicate that Bitcoin tends to mirror gold’s performance—typically 100 days later, and with significantly more volatility.
Pompliano reinforced this idea, stating, “What we do see is that when gold runs, Bitcoin usually follows - and it tends to run much harder.”
A Divergence with a Potential Convergence Ahead?
While gold dominates the headlines in Q2 2025, Bitcoin’s moment may still be on the horizon. If gold's current price trajectory does reach a terminal phase, it could open the door for BTC to reclaim its narrative as a digital safe haven - especially if macro pressures persist.
Whether Bitcoin will once again ride the coattails of gold’s momentum, or whether it will chart a new path entirely, remains to be seen. But for now, as gold celebrates its record streak, Bitcoin is left waiting in the wings.