According to reports from AMBCrypto, the traditional relationship between metals and risk assets is experiencing a significant shift. While gold has gained approximately 6.8% this year, Bitcoin has seen about a 10.65% correction, suggesting metals have maintained structural strength over risk assets. However, investor risk appetite is accelerating rapidly, with over the last four weeks, inflows into risky assets have exceeded safe-asset inflows by a record $220 billion. This compares to the 2020 pandemic shock when safe assets attracted over $500 billion in inflows compared with risk assets.
As reported by AMBCrypto, Federal Reserve nominee Kevin Warsh has reiterated his confidence in Bitcoin, even referring to it as 'new gold'. With Warsh considered a potential next Fed Chair, his stance adds significant weight to how investors may approach long-term capital allocation. This federal support comes at a time when Bitcoin dominance is already up 2.3%, reinforcing Bitcoin's strengthening market share and suggesting a broader macro shift where capital may be rotating back into Bitcoin as a leading risk asset.
According to AMBCrypto analysis, the Bitcoin-gold ratio closed March up 17.67%, followed by another 13.03% gain in April, a combined 30.7% rally in roughly 60 days. This marks the strongest move since the Q2 2025 cycle, when the ratio was over 22%. The BTC/XAU ratio finished last year down 43%, which keeps the narrative of a 40%+ Bitcoin outperformance versus gold under scrutiny. However, the Bitcoin–gold ratio may have already put in a cyclical low, with price showing a clean retest of the 2017 ratio all-time high zone and the 2022 bear-market base range, levels typically associated with trend reversals.
As reported by AMBCrypto, projections of a 42% BTC/XAU outperformance by year-end now appear more realistic given the current market dynamics. The combination of rising investor risk appetite, Bitcoin dominance breaking out alongside rising investor risk appetite, and a Fed outlook that appears increasingly supportive of BTC doesn't look like a fluke but points toward a broader macro shift. The BTC/XAU vertical expansion doesn't look exhausted but more like the early stages of a bigger move unfolding, supporting the potential for Bitcoin to significantly outperform gold in 2026.
