Gold Hits Record $3,812 as BTC Pauses 10% Below All-Time High

Gold surged to record highs in Asian trading on Monday, showing why it is called the world’s premier safe-haven asset as uncertainty grips US politics and monetary policy.

Spot gold hit an all-time high of $3,812 an ounce, while December futures touched $3,839.05/oz, extending gains as investors sought shelter from a looming US government shutdown and positioned themselves for possible Federal Reserve rate cuts.

Silver and platinum the rally, climbing to decade highs, as the dollar weakened. The last time US markets faced a comparable standoff was in late 2018 to early 2019, when a 35-day shutdown cut the GDP by an estimated $11 billion.

With funding set to expire at midnight on September 30, traders remain fixated on bipartisan negotiations in Washington, where leaders will meet President Donald Trump in a last-ditch attempt to avoid disruption.

While gold shines, Bitcoin is struggling to break free from consolidation around $12,000. The cryptocurrency is still about 10% below its all-time high of $124,000, but saw a 2.2% daily rise as trading volume spiked by over 75% in the past 24 hours.

Market analyst Jordi Visser argued that Bitcoin’s current price action mirrors the growth trajectory of Nvidia, noting that just as Nvidia endured multiple 20% corrections on its way to a 1,000% rally post-ChatGPT, Bitcoin too could face sharp pullbacks before reclaiming new highs.

Visser linked Bitcoin’s long-term growth potential to the rise of artificial intelligence. As AI adoption accelerates, he predicted that investors will increasingly view BTC as the ultimate store of value in the digital era.

Analysts at XWIN Research Japan that the MVRV ratio, which compares Bitcoin’s market value to the average cost basis of holders, has cooled to around 2.0, signaling neither excessive fear nor greed.

Historically, this mid-range consolidation has marked the reset phase before major expansions. Meanwhile, long-term holders remain steadfast, with profit-taking declining sharply.

The reduced supply pressure is similar to the patterns seen in 2017 and 2020, when reduced selling preceded powerful rallies.

Together, valuation resets and strong holder conviction suggest that Bitcoin is not at the end of its bull cycle, but rather pausing before its next upward surge.