Gold Surges to New Heights as Bitcoin Lags Behind, Echoing Past Market Patterns
On March 17, 2025, gold has reached a new all-time high, surpassing $3,025 per ounce, marking a remarkable 15% increase since the start of the year. In contrast, Bitcoin (BTC) has struggled, down 10% year-to-date.
This gold rally has been driven by several factors, including a surge in inflows into gold exchange-traded funds (ETFs) and its enduring status as a safe-haven asset amid rising geopolitical tensions. Additionally, speculation about new tariffs under President Trump has stoked further demand for U.S. equities, further boosting gold’s momentum. With a 40% year-over-year gain, gold’s performance has significantly outpaced Bitcoin’s 16% increase.
Historically, gold and Bitcoin rarely move in sync. When gold enters a bull market, Bitcoin often stagnates or declines. However, there have been brief periods when both assets have experienced simultaneous rallies or declines. In 2019 and 2020, gold initially led the charge, while Bitcoin caught up in the latter half of 2020, entering its own bull market as gold’s momentum slowed. By 2022, as global interest rates began to rise, both assets faced pressure, but both rebounded in 2023 and 2024. Now, in 2025, the divergence between gold and Bitcoin is becoming more pronounced once again.
Charlie Morris, founder of ByteTree, has described the current gold rally as a “proper gold rush”—something not seen since 2011. He remarked, “Gold above $3,000, silver above $24, and gold stocks gaining momentum—it struck me that the crypto crowd has never witnessed a true gold rush. The last time this happened was in 2011, when Bitcoin was just emerging at $20. They will now.”
