PANews reported on March 5th that Bloomberg ETF analyst Eric Balchunas pointed out that since the Iranian airstrikes and escalating geopolitical tensions, Bitcoin has risen by about 12% , while Gold has fallen. However, this does not mean that Gold has "failed" as a safe-haven asset or that Bitcoin has completely replaced its function. Balchunas emphasized that short-term price performance may be more driven by changes in market-making participation such as Jane Street and market sentiment. Gold's pullback may also be due to investors taking profits or some funds rotating into Bitcoin . Drawing conclusions about the nature of an asset based solely on short-term market movements is problematic.