Today, the gold price reached a new all-time high at nearly $3,550 per ounce.
Bitcoin, however, in the last two weeks has fallen from all-time highs of over $124,000.
The fact is that for a few days now a new rally in the price of gold has started, while Bitcoin for now seems to be essentially stagnant.
Gold Price at All-Time Highs
The price of gold surpassed $3,500 per ounce for the first time in history this April, but it stopped right at that threshold.
The following month corrected to $3,120, then began a period of substantial sideways movement until the end of August, during which it fluctuated between approximately $3,200 and $3,400 per ounce.
This period of lateralization ended on August 26, when a new rally began, still ongoing, which saw it climb first above $3,400 and then also above $3,500.
It is noteworthy that starting from that date, all daily stock market sessions have concluded with the price of gold rising.
The current level is still only slightly above the peak of April, but back then it had already fallen below $3,300 the very next day. This time, however, it has been above $3,500 for two days, giving the impression of wanting to continue growing.
Technically, its trend is still within an ascending channel that began at the end of November 2024, when it was around $2,600, and which seemed ready to break shortly after mid-August with the drop to just over $3,300. Instead, from that drop, a rebound started, still ongoing, which has brought it to new all-time highs.
Bitcoin Price Between ATH and Corrections
The price trend of Bitcoin in recent months has been completely different.
It must be said that, although Bitcoin is often considered a sort of “digital gold“, it is actually very different from real gold, because the latter is risk-off while BTC is risk-on.
Therefore, it should not be surprising at all that the price trends of the two assets differ.
Bitcoin, for example, in the first half of August was rising just as gold was falling, and since gold started to rise again, the price of Bitcoin has continued to fall.
However, the decline of Bitcoin at the end of August is actually minor compared to the enormous growth at the beginning of August, so much so that the current price is not only perfectly in line with that of July 10, but it is also higher than the January peak, and quite in line with the May peak.
It is enough to say that the 365-day moving average, which in October 2024 was below $60,000, has been continuously rising since June 2023, and has now reached almost $94,000: this is the highest value ever.