Bitcoin holds on as Gold climbs – Is this the new safe haven duo?

• Bitcoin is still holding above $80k as investors look for safety in uncertain markets
• Metrics indicated that 77% of holders wer in profit, with netflows backing strong sentiments

The world economy continues to tread on shaky ground. Trade relationships are evolving, inflation has not yet been completely eliminated, and the stock markets are just starting to show cracks. And yet, hard assets like Gold and Bitcoin are silently stealing the spotlight.

In fact, Gold went on to hit a new all-time high of $3,300 on the charts. Hard on its heels, BTC remains well above the $80k price level. The two are moving in sync and for good reason – Investors are looking for safety.

With traditional assets losing their edge, Bitcoin seems to be making its case as a serious safe-haven contender. 

Investors are eyeing BTC in uncertain times

Investors appear to be responding to global uncertainty by moving capital into assets that preserve value. Gold has traditionally played that role, but Bitcoin is fast catching up. Its decentralization and global liquidity are making it an attractive hedge.

With equities facing potential downside and global financial policy still unsettled, BTC is now being considered by some as “digital gold.” Its performance during recent stock sell-offs further reinforced this sentiment.

With the crypto recording all-time high inflows and reduced unrealized losses, the number of large investments on the current dip could push its prices higher. The last time Bitcoin recorded such a high number on unrealized losses was during the 2021 sell-off and 2022 bear markets.

Both events were followed by a significant bullish rally on the charts. 

Source: Glassnode

Metrics back the bullish case

According to IntoTheBlock, on-chain metrics also indicated growing confidence. At the time of writing, Bitcoin’s exchange netflows stood at at 52%. That meant that more BTC is being withdrawn from exchanges than deposited – A signal of investor intent to hold, rather than sell.

In fact, the data showed that 77% of all Bitcoin addresses may be in profit. This level of profitability often enhances holder sentiment and supports price stability, or even further upside momentum.

Source: IntoTheBlock

As long as there is economic uncertainty and faith in traditional markets remains unstable, Bitcoin could continue to reap big. To remain above $80k is not just a matter of price – It is sentiment. Buyers simply see value in BTC today.

With Gold and Bitcoin both red-hot, the safe-haven narrative is building momentum. If this continues, Bitcoin can not only remain in step, it could hit new highs.