Bitcoin once again surpasses $87,000, pulling altcoins BNB, SOL, and XRP in its wake. This bullish move reignites debates about its status as a safe haven asset amidst global economic instability.

n and Gold Advance in Tandem Amid Economic Uncertainties

Bitcoin price today rose above the $87,000 mark during Asian trading on Monday, pulling up altcoins such as BNB, SOL, and XRP in its wake.

Rising interest in Bitcoin comes amid global economic instability, reigniting debates about its status as a safe haven asset.

Bitcoin and Gold Advance in Tandem Amid Economic Uncertainties

The crypto market is displaying impressive strength at the start of the week.

Major crypto prices saw positive momentum.

Cardano (ADA), Binance Coin (BNB), and XRP each advanced by up to 1.5%.Solana (SOL) saw a 5.2% increase in price over the week.

This recovery comes as gold futures touched record highs above $3,380 an ounce.

The correlation between the two assets reinforces the idea that bitcoin is regaining its status as “digital gold.”

Although bitcoin has long been correlated with US equities, it now appears to follow more closely the trajectory of gold, which has served as a safe haven while stock markets declined.

Dollar Weakness Favors Alternative Assets

The US Dollar Index (DXY) fell to its lowest level in three years on Monday, pressured by potential interest rate cuts and political uncertainties.

The Trump administration could seek to replace Jerome Powell as head of the Federal Reserve and impose rate cuts.

This news prompted investors to diversify their assets.

“Trade tensions and inflation fears are leading investors to turn to safe haven assets like gold and now bitcoin,” said Jeff Mei, Chief Operating Officer at BTSE.

A rate cut increases the money supply, which devalues the dollar and potentially strengthens Bitcoin’s role as a safe haven.

Despite a drop of over 20% from its peak of $108,000 in January, bitcoin shows signs of resilience.

This recovery aligns with the bold prediction of Robert Kiyosaki, author of “Rich Dad, Poor Dad,” who anticipates bitcoin reaching $1 million by 2035.

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

Maximize Your Cointribne Experience with our "Read to Earn" Program! For Every Article you read, Earn Points and Access Exclusive Rewards. Sign Up Now and Start Earning Benefits. Passionate by Bitcoin, I like to explore the meanders of blockchain and cryptos and I share my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.