Bitcoin and gold enter rapid price surge as 'up-only' mode begins

Bitcoin and gold have recently entered a phase of rapid price increases, referred to as "up-only" mode. Bitcoin reached a new high of nearly $81,000 following the U.S. election, while gold has also seen multiple all-time highs in 2024. This shift marks a significant change from previous years, where both assets experienced long periods of consolidation. The correlation between Bitcoin and gold has increased, suggesting a broader trend away from traditional fiat currencies. Investors are now more inclined to allocate funds to Bitcoin, with notable pension funds beginning to invest. This reflects a growing recognition of Bitcoin as a legitimate asset class amid concerns over rising debt and inflation.