A 1% increase in gold isn’t exactly a strong sign that investors are heavily putting their money into it, maybe just a small shift. As for crypto or Bitcoin dropping during this ongoing conflict, that’s understandable. In my opinion, investors still tend to choose gold over crypto for now.
But at least we have Bitcoin, which could serve as a hedge against inflation in the long run. If the situation gets worse, hopefully not, we might eventually see money start flowing into Bitcoin. One day, we might just wake up to a sudden 10% pump or more, which is pretty normal in the crypto market.
Meanwhile, gold moves 1% and experts already treat it like a major event.
You need to look at market cap, 1% of 22 trillion is equivalent to or even greater than 10% of 2 trillion. That means when gold price increases by 1%, gold market capitalization increases by 220 billion, while for capitalization to increase by 220 billion, Bitcoin would need to increase by more than 10%.
That is also the reason why rich people own millions, billions of dollars and only need to invest in gold, stocks...assets that are said to increase in price less than bitcoin. But they will also make huge and much larger profits than bitcoin investors with just a few thousand or a few hundred thousand dollars in capital.