Bloomberg analyst says short-term volatility is not enough to negate the safe-haven attributes of Gold or Bitcoin

Bloomberg ETF analyst Eric Balchunas stated that since the Iranian airstrike incident triggered geopolitical tensions, Bitcoin has risen by about 12%, while Gold has declined. However, this is not enough to indicate that Gold has "failed" as a safe-haven asset or that Bitcoin has completely replaced its function. He pointed out that short-term price fluctuations may be more influenced by changes in participation from market makers such as Jane Street and market sentiment. The pullback in Gold may be related to investors taking profits and some funds shifting to Bitcoin. Drawing conclusions about asset characteristics based on short-term market trends is not reasonable.