I think it all started with Trump's economic policies, including the tariff wars that he has started and likely won't end anytime soon. So the world is still in the adjustment period with this play that he's doing. While he does that, the other big countries that have relied on them for a long time are starting to make sure that whichever policy they make globally, they won't be affected a lot and that's where China has stepped in and making more alliances and giving debts to other nearby and far nations just to gain their confidence.
When traditional safe assets start losing trust, alternatives like Bitcoin and gold start looking less like “speculation” and more like insurance against government mistakes, currency wars, or runaway debt
And this is true, while countries are continuing to acquire gold assets while for some have started selling tons of their reserve. This is where they should look at and wise country leaders are looking after it so if a huge economic shake happens, they have come prepared to face it by choosing assets that can stably get back on track like Bitcoin.