Both gold and Bitcoin (BTC) have extended their gains since yesterday

As of Tuesday noon (UTC), gold extended its gains by roughly 4% while Bitcoin displayed a 2% bounce. According to QCP Capital, the sustained upward trajectory of the two safe-haven assets underscored a broader flight from US equities, treasuries, and the dollar.

Both gold and Bitcoin (BTC) continued to gain ground on Tuesday. Their rally was supported by President Donald Trump’s emphasis on the role of gold in the global economic and political arena. The president’s powerful statement also aided Bitcoin, often called “digital gold.”

A Flight To Gold And Bitcoin

As of noon (UTC) on Tuesday, gold extended its gains by roughly 4% while Bitcoin displayed a 2% bounce. According to QCP Capital, the sustained upward trajectory of the two safe-haven assets highlighted a broader flight from US equities, treasuries, and the dollar. The analytics firm attributed the latest developments to concerns about the independence of the Federal Reserve, which Trump is reportedly exploring via legal means to oust chair Jerome Powell.

In addition, QCP highlighted that Bitcoin has visibly recovered this month, driven by strong demand in the US market, presenting an interesting dynamic. According to the firm, institutional investors are pivoting towards crypto in a big way. Along the way, spot volumes outperformed perpetuals, showcasing the largest Coinbase premium in months and $381.3 million inflows in spot Bitcoin exchange-traded funds (ETFs). It claimed that call options have dominated positions in the futures market.

The company explained that Bitcoin’s resilience during the period underscores its decoupling narrative. Together with gold, it has proven to be a key beneficiary of the “exodus from USD risk.”

Moreover, QCP said the cost of insuring high-grade credit against default has spiked to a one-week high. The firm warned of further volatility up ahead as uncertainty grips the market.

Barring any other factors that could potentially shift market sentiment, QCP believes gold and Bitcoin will continue to gain considerable traction at the current setting.

Bitcoin Is Showing ‘Immense Strength'Ppseudonymous analyst Cas Abbé, a Web3 growth manager and Binance affiliate, stated that Bitcoin has been showing resilience against the bearish trend in the US stock markets. According to him, global and on-chain events indicate that the BTC reversal may have begun.

The analyst named the weakening of the US dollar, the all-time high global M2 money supply, and the delayed reaction to gold’s breakout as his primary considerations for his outlook. He ruled out a possible bull trap as he firmly stood his ground that BTC has already bottomed at the $74K to $75K level. The crypto personality concluded that Bitcoin could go on a sustained rally from this point onward.

On the other hand, Bitcoin has been hovering above the overbought zone in the Stochastic RSI (Relative Strength Index). This means it could be due for a correction soon. For Roman, another anonymous trader on X, a 10% to 15% correction at this rate would make sense, given the downward move of the S&P 500 index lately.