In the late-cycle "Big Debt" phase, rotating from gold to Bitcoin and stocks is a strategic move to capture a liquidity surge. However, timing is everything:
* The Trap: A single rate cut with no asset purchases keeps the dollar strong and liquidity tight. This is bearish for gold but also stalls Bitcoin and stocks.
* The Signal: True expansion begins when the Fed commits to multiple cuts and the Treasury restarts asset purchases.
* Action: Avoid rotating too early. Wait for confirmed liquidity growth before moving from gold's safety to high-beta risk assets.