Gold Soars Past Record Levels, Challenging Bitcoin’s Safe Haven Status

Gold has reached record highs this week, surpassing $3,500 per ounce, while Bitcoin struggles to maintain momentum. This shift in investor sentiment raises questions about whether gold is taking on the role of a safe-haven asset as Bitcoin’s appeal wanes. As inflation and geopolitical risks intensify, investors are flocking to gold, further strengthening its position as a traditional safe-haven choice. 36Crypto reports that while Bitcoin fell below crucial support levels, breaking below $120,000, analysts like Will Clemente suggest this could signify a potential shift in investor sentiment, with gold rising on increased demand and institutional investments.