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

Bloomberg ETF analyst Eric Balchunas said that since the geopolitical tensions sparked by the Iran airstrike, Bitcoin has risen by about 12%, while Gold has fallen, but 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 market makers such as Jane Street and market sentiment, and the pullback of Gold may be related to investors taking profits and some funds turning to Bitcoin. Based on short-term market conditions, it is not reasonable to draw conclusions about asset properties.