Gold Sets the Pace, Bitcoin Follows the Lead; History Reveals a Recurring Pattern.

Gold Reaches Historic Highs as Bitcoin Lags Behind, Echoing Past Market Trends

On March 17, 2025, gold has surged to an all-time high, surpassing $3,025 per ounce, marking a notable 15% increase since the beginning of the year. In contrast, Bitcoin (BTC) has struggled, showing a 10% decline year-to-date.

The rally in gold can be attributed to a number of factors, including strong inflows into gold exchange-traded funds (ETFs) and its established role as a safe-haven asset amidst growing geopolitical tensions. The discussions around new tariffs in the U.S. under President Trump have also fueled demand for U.S. equities, further boosting the price of gold. With a 40% year-over-year increase, gold’s performance has significantly outpaced Bitcoin’s 16% gain in the same period.

Historically, gold and Bitcoin tend to move in opposite directions. When gold enters a bull market, Bitcoin often stagnates or experiences a decline. While there are occasional periods when both assets rise or fall in unison, these moments are relatively rare. During the rally from early 2019 to 2020, gold led the charge, with Bitcoin following in late 2020, embarking on its own bull market while gold took a step back. By 2022, both assets faced downward pressure due to rising interest rates but rebounded in 2023 and 2024. In 2025, however, gold and Bitcoin are once again diverging, with gold leading the way.

ByteTree founder Charlie Morris has referred to the current gold rally as a “proper gold rush,” something that hasn’t been seen since 2011. He noted, “Gold above $3,000, silver above $24, and gold stocks gaining momentum—it hit me that the crypto community has never experienced a true gold rush. The last time this occurred was in 2011 when Bitcoin was just emerging at $20. They’re about to witness it now.”

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