Gate News bot reports that as tensions in the Middle East escalate, gold prices are approaching historical highs. However, analysts express skepticism about whether Bitcoin can rise in tandem, as investors prefer other safe-haven assets.
According to TradingView data, gold prices rose to $3,450 per ounce on Monday, just $50 below the historical high of $3,500 in April.
Gold has risen by 30% since the beginning of this year, thanks to U.S. President Trump's trade tariffs and the escalation of military actions in the Middle East following Israel's missile strike on Iran on June 13, which has led to a drop in Bitcoin prices.
Gold prices are also closely related to inflationary pressures, as investors view gold as a safe-haven asset and an inflation hedge.
CBS reported last weekend that "if more data or comments released by economic officials indicate that market concerns about inflation or interest rate policies are intensifying, gold prices could easily hit new highs."
In comparison, Bitcoin has only risen 13% so far this year, but it is currently approaching its historical high, with the current trading price down 5.3% from the peak of $111,800 reached on May 22.
However, IG Markets analyst Tony Sycamore pointed out that Bitcoin is still traded more as a risk asset similar to US stocks, rather than as a safe-haven asset like gold.
"In this sense, given that US stock index futures have rebounded strongly today from last Friday's sell-off, Bitcoin still has room to rise and is expected to catch up with US stock index futures."
He added that if Bitcoin can hold the support level of $95,000 to $100,000, "I expect it to retest the historical high of $112,000, then move towards the $116,000 and $120,000 regions."
Apollo Crypto analyst Henrik Andersson expressed a similar view, noting that "after the initial sell-off last Friday due to news from the Middle East, we saw a recovery in both stock futures and Bitcoin."
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During the Israel-Hamas conflict, Bitcoin performed worse than gold. Has its safe-haven property failed?
Gate News bot reports that as tensions in the Middle East escalate, gold prices are approaching historical highs. However, analysts express skepticism about whether Bitcoin can rise in tandem, as investors prefer other safe-haven assets.
According to TradingView data, gold prices rose to $3,450 per ounce on Monday, just $50 below the historical high of $3,500 in April.
Gold has risen by 30% since the beginning of this year, thanks to U.S. President Trump's trade tariffs and the escalation of military actions in the Middle East following Israel's missile strike on Iran on June 13, which has led to a drop in Bitcoin prices.
Gold prices are also closely related to inflationary pressures, as investors view gold as a safe-haven asset and an inflation hedge.
CBS reported last weekend that "if more data or comments released by economic officials indicate that market concerns about inflation or interest rate policies are intensifying, gold prices could easily hit new highs."
In comparison, Bitcoin has only risen 13% so far this year, but it is currently approaching its historical high, with the current trading price down 5.3% from the peak of $111,800 reached on May 22.
However, IG Markets analyst Tony Sycamore pointed out that Bitcoin is still traded more as a risk asset similar to US stocks, rather than as a safe-haven asset like gold.
"In this sense, given that US stock index futures have rebounded strongly today from last Friday's sell-off, Bitcoin still has room to rise and is expected to catch up with US stock index futures."
He added that if Bitcoin can hold the support level of $95,000 to $100,000, "I expect it to retest the historical high of $112,000, then move towards the $116,000 and $120,000 regions."
Apollo Crypto analyst Henrik Andersson expressed a similar view, noting that "after the initial sell-off last Friday due to news from the Middle East, we saw a recovery in both stock futures and Bitcoin."
Source: Cointelegraph