It looks like the good old debate between Gold (XAU) and Bitcoin (BTC) will never be settled. In early March, Bitcoin began outperforming gold following the US-Iran rally. It even rose as high as $74,000, acting as a hedge during geopolitical tensions.
However, as we move towards the end of the month and the end of the first quarter of 2026, Bitcoin is losing its appeal.
Gold and Bitcoin: An analysis
At the time of reporting, the XAU/BTC chart was showing green candles on the 4-hour time frame, indicating that gold was performing better than it has so far. Bitcoin Again. At the same time, Bitcoin was struggling to stay above the crucial $67,000 level.
Looking back, we can see that the chart dropped sharply earlier this month. This meant that Bitcoin was performing much better than gold. Later, both assets moved sideways for a while, showing a balance between them, but now things have changed.
However, it is worth noting that this jump is currently minimal and does not indicate a real trend change. However, the RSI was in the overbought zone around 72, further confirming the sentiment.
Bitcoin-Gold correlation hits bottom
At the time of writing, the price correlation of Bitcoin and Gold stood at -0.47, meaning that both assets were moving in opposite directions.
Therefore, according to on-chain analysis, Bitcoin is still considered a risky asset compared to gold.
Bitcoin’s all-time critic Peter Schiff echoed this sentiment, stating:
Schiff’s narrative was also supported by the asset market value chart, which showed Bitcoin ranked 12th, while gold was at the top.
This comes as Bitcoin is trading around $67,258 and gold is priced at $4,536 at press time.
However, when you zoom out and look at the entire month, Bitcoin was acting as a ‘safe haven’ while gold was on the rise. to witness It was the worst five-day decline since 1983.
So, as we move towards Q2 2026, time will tell whether the market is still fragmented or whether there is agreement on the concept of a de facto ‘safe harbour’.
Final Summary
- The Gold vs Bitcoin debate continues as both assets show strength at different times in different market conditions.
- The negative correlation metric also confirms that both assets are not moving in the same direction.
