Gold's historic surge to $5,600 added more to its market cap in a single day than Bitcoin's entire valuation.
Gold's breathtaking rally on Thursday sent the precious metal soaring above $5,600, adding more value to its market cap in a single day than Bitcoin's entire market capitalization.
Gold prices surged to historic highs above $5,600 on Thursday before pulling back to around $5,200. According to Quinten François, host of CoinCompass, the yellow metal added approximately $2.2 trillion to its market cap in just one trading session. To put this in perspective, Bitcoin's entire market capitalization stands at roughly $1.78 trillion, meaning gold gained more value in one day than the world's largest cryptocurrency is worth in total.
The move comes as investors rotate into traditional safe-haven assets amid market uncertainty. Bitcoin, by contrast, dropped to fresh 2026 lows around $81,000, shedding nearly $10,000 in value over 24 hours as more than $777 million in leveraged long positions were liquidated.
The dramatic divergence between gold and Bitcoin highlights ongoing questions about crypto's role as a safe-haven asset. While Bitcoin proponents have long marketed it as "digital gold," this week's price action shows traditional gold still dominates during risk-off periods.
Tokenized gold assets like PAX Gold (PAXG) and Tether Gold (XAUT) are trending as investors seek exposure to the precious metal's rally through blockchain rails. These products allow crypto-native investors to access gold's upside without leaving the digital asset ecosystem.
Market participants are monitoring whether Bitcoin can reclaim key resistance levels after briefly touching $81,000. Analysts suggest that failure to recover above prior support zones could open the door to further downside. Meanwhile, gold's pullback from $5,600 to $5,200 suggests some profit-taking, though the broader trend remains bullish for precious metals.
The gold versus Bitcoin narrative continues to evolve as both assets compete for safe-haven status. This situation remains fluid as markets digest the Fed's decision to hold rates steady and speculation around the next Fed Chair appointment.
Wall Street giant Citigroup projects Bitcoin could reach $143,000 within 12 months, citing ETF demand and regulatory tailwinds as key catalysts.
The largest US bank is assessing spot and derivatives trading services as regulatory clarity enables traditional finance to deepen crypto involvement.
All 12 U.S. spot Bitcoin ETFs saw positive inflows on March 2, totaling $458M as BTC rebounds from February lows.
Disclaimer: News content is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly. Always conduct your own research.
