Is There a Capital Shift Happening from Gold to Bitcoin?

Gold has seen its worst losing streak in over a century, with prices dropping over 25% from January highs. Despite speculation of capital shifting from gold to Bitcoin, both assets are showing signs of weakness. Analysis suggests that a clear rotation signal relies on a divergence between the two assets, which is currently not present. Instead of a decisive shift from gold to Bitcoin, both markets are experiencing parallel weakness or consolidation. However, some market participants speculate that what seems muted now could evolve into a major structural change over time. If capital does eventually transfer from gold to Bitcoin, it could result in one of the largest reallocations in history and significantly boost Bitcoin's long-term trajectory.