• In the face of the crisis, investors are turning to safe-haven assets.
• Bitcoin (BTC) has the potential to increase its relevance in this context.

The price of gold, which rose above 4,300 dollars per ounce, reached a technical barrier that had not been seen in decades.

This scenario —which enables a potential correction for the precious metal— could open a window of opportunity for bitcoin (BTC) to capture some of the capital seeking refuge from global economic uncertainty.

Gold has touched a trend line that has acted as resistance for the past 40 years, starting in 1985.

As observed in high timeframe charts, every time the price has approached this zone, it has experienced significant retracements.

The recent rapid rise increases the likelihood of history repeating itself, which would lead to profit-taking by investors.

Historically, in the face of a crisis, investors turn to safe-haven assets like gold to preserve their capital.

This is even seen in the tokenized versions of gold. According to industry sources, a historic record of trading volume for Pax Gold (PAXG) was recorded in the second week of October on some platforms. 78% of the volume corresponded to purchases, as detailed.

The curtain would be rising for bitcoin

However, if the golden metal faces a ceiling in its quotation and enters an overbought situation, that capital could seek new destinations.

In this context, bitcoin has the potential to increase its relevance. Although BTC has not replicated gold's behavior to the same extent during this last cycle, a correction in the metal could favor it.

A pullback in the price of gold could prompt investors to diversify their portfolios into assets with similar store of value narratives.

If this happens, bitcoin would experience renewed interest and consolidate its position as a digital alternative to gold, especially in a macroeconomic environment that continues to present challenges.