Gold (XAU) price gained nearly 3 percent in the past 24 hours to trade at about $3424 per ounce on Tuesday, May 6

The demand for Gold by global central banks continued to increase as the U.S. dollar weakened against major currencies led by the Pound, Japanese yen, and the EUR.

Gold (XAU) price rose nearly 3 percent in the past 24 hours to trade at about $3,424 per ounce on Tuesday, May 6, during the mid-Northern American session. The top-tier precious metal extended its gains on Tuesday as India launched a military offensive attack against Pakistan following a recent terror attack.

The demand for Gold by global central banks continued to increase as the U.S. dollar weakened against major currencies clotted by the Pound, Japanese yen, and the EUR. What’s more, the ongoing global trade negotiations impacted the equity markets, led by the United States stocks.

Gold Price Eyes Parabolic Rally

From a technical analysis standpoint, Gold price is on the verge of experiencing a parabolic rally potentially akin to the 1979 rally. If the global demand for Gold continues in the coming months, the precious metal will likely rally beyond $4k per OZ before the end of 2025z

Expected Impact on Bitcoin Price

The notable rally for Gold price elated Bitcoin bulls, as the flagship coin surged nearly 1 percent to trade at about $94.6k at the time of this writing. Ahead of Wednesday’s Federal Funds Rate and the FOMC statement, Bitcoin price experienced heightened volatility.

$500K+ $BTC this bull market is more realistic than it sounds.The current total market cap for GOLD is $22.6 Trillion.My target for GOLD over the next few years is >$8K per oz. This would put it's mcap over $50T. #Bitcoin currently has a market cap of less than $2T.… https://t.co/KqANkhV1Xo

Ultimately, the cash rotation from gold to Bitcoin by institutional investors will catalyze the much-anticipated parabolic rally for BTC and the wider crypto market in the near future.

Moreover, institutional investors – led by Strategy, and BlackRock – have been accumulating Bitcoin in the recent past.

Additionally, Bitcoin Futures Open Interest (OI) has gradually increased in the past few weeks to about $63 billion at the time of this writing.output: Gold (XAU) price rose nearly 3 percent in the past 24 hours to trade at about $3,424 per ounce on Tuesday, May 6, during the mid-Northern American session. The top-tier precious metal extended its gains on Tuesday as India launched a military offensive attack against Pakistan following a recent terror attack.

The demand for Gold by global central banks continued to increase as the U.S. dollar weakened against major currencies clled by the Pound, Japanese yen, and the EUR. What’s more, the ongoing global trade negotiations impacted the equity markets, led by the United States stocks.

Gold Price Eyes Parabolic Rally

From a technical analysis standpoint, Gold price is on the verge of experiencing a parabolic rally potentially akin to the 1979 rally. If the global demand for Gold continues in the coming months, the precious metal will likely rally beyond $4k per OZ before the end of 2025z

Expected Impact on Bitcoin Price

The notable rally for Gold price elated Bitcoin bulls, as the flagship coin surged nearly 1 percent to trade at about $94.6k at the time of this writing. Ahead of Wednesday’s Federal Funds Rate and the FOMC statement, Bitcoin price experienced heightened volatility.

$500K+ $BTC this bull market is more realistic than it sounds.The current total market cap for GOLD is $22.6 Trillion.My target for GOLD over the next few years is >$8K per oz. This would put it's mcap over $50T. #Bitcoin currently has a market cap of less than $2T.… https://t.co/KqANkhV1Xo

Ultimately, the cash rotation from gold to Bitcoin by institutional investors will catalyze the much-anticipated parabolic rally for BTC and the wider crypto market in the near future.

Moreover, institutional investors – led by Strategy, and BlackRock – have been accumulating Bitcoin in the recent past.

Additionally, Bitcoin Futures Open Interest (OI) has gradually increased in the past few weeks to about $63 billion at the time of this writing.