Bitcoin fell back below $64,000 and touched a one-week low on Tuesday as investors rotated toward gold, which rose to $4,435 an ounce, its highest level since early June, amid escalating geopolitical tensions, firmer oil prices and broader demand for traditional safe havens ahead of Wednesday's U.S. CPI report. BTC/USD lost 1.5% on Monday and remained under pressure during Tuesday's Wall Street session, while crude oil surged 5% as the U.S.-Iran conflict deepened and the Strait of Hormuz was blockaded. Demand for gold strengthened even as U.S. equities moved sideways. Data from The Kobeissi Letter showed the SPDR Gold Shares ETF attracted $50 million in daily retail inflows on August 5, the largest single-day figure since mid-March, while total inflows into GLD reached $637 million that day. More than $1.4 billion has flowed into GLD so far this month, putting the fund on track for its first net monthly inflow since February. By comparison, U.S. spot Bitcoin ETFs drew a combined $244.4 million over the same period. The renewed interest in gold has been especially pronounced among Chinese investors. The contrast with crypto has highlighted subdued retail participation, which market watchers have frequently described as a missing ingredient for a sustained rally in digital assets. Even so, CryptoQuant said Bitcoin's 90-day rolling correlation with gold has returned to levels last seen during the peak of the digital-gold narrative. CEO Ki Young Ju said that suggests both assets are still reacting to the same macroeconomic forces as investors look for stores of value. From a technical perspective, Bitcoin continues to face resistance near $66,000. Its 50-month exponential moving average, now at $65,827, has acted as a ceiling, with BTC/USD recording only three daily closes above that level since the start of June. Michaël van de Poppe described the market as rangebound and said the latest decline likely amounted to a liquidity grab that flushed out over-leveraged long positions. He said a move back toward $64,500 could indicate stabilization, while a break above $65,800 would leave $73,000 in view.