Gold descends from the historic tops, but Bitcoin is not the new refuge

After leap up to $ 3,500 the ounce, a new historical record reached on Tuesday, the gold lost nail polish, sliding this morning to $ 3300 (-2.2%).

Gold price today descends from the historic highs, but Bitcoin is not the new refuge. After the rise to $ 3,500 an ounce, a new historical record reached on Tuesday, saw the precious metal lose ground, sliding this morning to $ 3,300 (-2.2%).

To trigger the correction was an unexpected change of pace by the White House: Donald Trump backed down on the president of the Fed, Jerome Powell, stating that he does not want to remove him, after days of threats and pressures for a cut in the rates. A sign of relaxation that has cooled the demand for safe-haven assets, with gold collapsing by $ 200.

But that's not all: the climate has also softened on the China front. The Secretary of the Treasury, Scott Besent, called the commercial war "unsustainable", while Trump spoke of "substantially lower" duties if an agreement is reached. The response of the markets was not slow in coming and saw the Bitcoin rate also divide, returning above 93,000 dollars (+6% in 24 hours), increasingly hooking to the movements of the yellow metal. Affaritaliani.it contacted the Activitrades analyst, Saverio Berlinzani.

Powell is now "safe"? How credible is this Trump rethinking?

"Until now Trump has alternated a stick and carrot in his pronouncements. So we would not be surprised to hear criticism again of the governor of the Fed's work soon. The market remains poised between Risk On and Risk off and can change trend several times according to the pronouncements of the US President."

Gold has gained over 30% since the beginning of the year. Is it still a sign of strength or has it become the mirror of global uncertainty?

"Gold is a safe-haven asset and as such the gains have supported it in this period of great uncertainty, gaining 30%, but perhaps it has reached excesses and the descent of 200 dollars which represents 6% of the discount, shows that the excesses can be corrected."

What is fueling the Bitcoin rally today? Can we really consider cryptocurrency a valid alternative to gold, or are we still in too volatile territory to speak of a "safe-haven asset"?

"Bitcoin moved upwards from August 2024, when it went from 50 thousand to over 100 thousand, due to the scarcity of the offer (limited number of coins) compared to the demand, but it did not go up as a safe-haven asset because it is not. In fact, it is an investment asset typical of the Risk On phases and as the drop which we witnessed in 2025 (from 109 thousand to 75 thousand) shows, in conjunction with a strong rise in gold. Therefore, the crypto in question cannot, at least for the moment, be considered a good safe-haven asset."input: As the U.S. president mulls over cutting interest rates to cushion the economic blow from the trade war with China, and threatens to remove the Federal Reserve chair if he doesn't comply with his request, the Bitcoin price today rose again.

After a stellar run in 2023 saw the Bitcoin rate almost quadruple to around $70,000 by early December, the crypto slid to $48,000 on Monday as Trump’s threats to remove Jerome Powell if he doesn't cut rates.

However, the president later relaxed his tone, and said he would prefer if the Fed chair stayed on at least until the 2024 election.

That saw Bitcoin new price today rise again, trading at 92,575 by 07:05 ET (11:05 GMT). Still, the crypto is about 40% lower than March when it hit a record high of $155,000.

Trump’s threats to remove Powell had also sparked a rally in the U.S. dollar, which in turn, threatened to derail the rally in the crypto markets.

But the Treasury Secretary, Yellen, soothed some of those concerns when she said the trade war was becoming "unsustainable" and that Trump was open to reducing tariffs "substantially" if a trade deal was reached with China.

The world's largest cryptocurrency was trading with gains of 6%, while the cryptocurrency market capitalization rose above $3.1 trillion.

Bitcoin is now trading at levels last seen in early May, and a further rise could see the crypto test the $100,000 mark again. A move above that level could open the door for a rally to the March highs of $155,000, or even the $180,000 level which was reached in 2023.output: U.S. President Donald Trump said on Monday he