Gold prices leaped like a kangaroo on steroids, while Bitcoin (BTC) took a nosedive as geopolitical tensions whipped up a storm in global markets.
It seems investors are flocking to traditional assets, like gold, to shield their wallets from financial losses, casting a shadow of doubt over Bitcoin’s claim as a safe haven. 🤔
Gold Soars to New Heights Amid Israel-Iran War
Crypto markets crashed harder than a clown on roller skates, with liquidations reaching a whopping $1 billion after Israel’s latest attack on Iran. As of this writing, Bitcoin traded for $104,830, down nearly 3% in the last 24 hours. Ouch!
Similarly, Ethereum took a tumble, crashing 10% after the attack, which only added fuel to the fire of liquidations. 🌡️
In contrast, gold is rising like a phoenix from the ashes. It’s approaching new highs as the precious metal attempts to reclaim its throne as the go-to haven during geopolitical stress. 🏆
“The deterioration of the geopolitical situation has caused a surge in gold prices,” stock analyst Mary noted, with a twinkle in her eye.
She emphasized that critical support levels are $3,420, $3,402, and $3,380. A break above $3,440 could potentially open up a move toward the $3,468–$3,493 range during the US session. As of this writing, gold was trading for $3,422. 📈
Trump says the US will ‘defend itself and Israel if Iran retaliates’
— The Spectator Index (@spectatorindex) June 13, 2025
This suggests that Trump may announce something different later today. Notwithstanding, Iran is committed to retaliating, raising the red flag of revenge. 🚩
BREAKING:
IRAN RAISES THE RED FLAG OF REVENGE…
SHOULD WE BE WORRIED?!
— Mister Crypto (@misterrcrypto) June 13, 2025
The red flag is associated with mourning and martyrdom in Shia Islam. However, following the 2020 US drone strike that killed General Qasem Soleimani, a prominent Iranian military leader, red flags were raised as a symbol of revenge. The practice is tied to the supreme leader’s calls for retribution. 🗡️
Safe Havens Revisited As Risk-Off Sentiment Dominates
The mounting crisis has fueled a stark divergence in asset performance. Gold is soaring like a kite on a windy day, while crypto is bleeding like a stuck pig. Analysts are warning traders to watch for signs of weakening bullish momentum. This is especially if Europe’s trading session fails to maintain strength. 📉
“The geopolitical situation is unstable, and brothers must strictly control the stop loss when trading independently,” analyst Mary warned, with a serious tone.
The sentiment shift, favoring gold relative to Bitcoin, aligns with recent remarks from Marcin Kazmierczak. The co-founder and COO of RedStone told BeInCrypto that Bitcoin may not be ready to replace gold or bonds as a haven. 🤷♂️
“With correlations ranging from -0.2 to 0.4, Bitcoin demonstrates a variable relationship with equities rather than providing the consistent negative correlation truly needed for effective portfolio protection,” Kazmierczak told BeInCrypto in the interview.
He said Bitcoin can add diversity to a portfolio but will not reliably protect against market crashes. 🤔
While some crypto proponents have argued that Bitcoin is digital gold, recent price action suggests it still behaves like a high-risk asset in acute uncertainty. 🤷♀️
As tensions escalate and markets react, the contrast between gold’s rise and Bitcoin’s retreat shapes new narratives around safe-haven assets. Investors are signaling a preference for the historical security of precious metals over the volatility of digital assets in times of crisis. 🛡️
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2025-06-13 15:37