Gold Takes the Lead, Bitcoin Trails Behind; History Points to a Consistent Trend.

Gold Hits Record High, Bitcoin Trails Behind as Markets Diverge

On March 17, 2025, gold has soared to a new all-time high, breaking the $3,025 per ounce mark, a remarkable 15% increase since the start of the year. In contrast, Bitcoin (BTC) has faced a decline, down 10% year-to-date.

Several factors have driven gold’s surge, including substantial inflows into gold exchange-traded funds (ETFs) and its traditional appeal as a safe-haven asset amid rising geopolitical uncertainties. Additionally, discussions surrounding potential new tariffs under President Trump have spurred demand for U.S. equities, further boosting the demand for gold. As a result, gold’s price has jumped 40% year-over-year, far outpacing Bitcoin’s 16% gain during the same period.

Historically, gold and Bitcoin tend to move in opposite directions. When gold enters a bull market, Bitcoin often stagnates or declines. While there are brief periods when both assets rise or fall together, such occurrences are rare. Between 2019 and 2020, gold led the way, with Bitcoin following suit in the final quarter of 2020, embarking on its own bull run while gold’s momentum slowed. In 2022, as interest rates increased globally, both assets faced downward pressure, before rebounding in 2023 and 2024. Now, in 2025, the two assets are once again diverging, with gold leading the charge.

ByteTree founder Charlie Morris has referred to the current gold rally as a “proper gold rush,” a phenomenon not seen since 2011. He commented, “Gold above $3,000, silver above $24, and gold stocks gaining momentum—this is something the crypto crowd has never witnessed. The last time we saw this was in 2011 when Bitcoin was just starting at $20. Now, they’ll experience it firsthand.”