Gold climbed to nine-week highs after Wednesday's CPI data, while Bitcoin fell 0.4%, renewing debate over whether the two assets still trade as alternatives or respond to the same macro forces. Peter Schiff said the move showed gold and Bitcoin are very different asset classes, noting gold rose 1.5% on the data as Bitcoin slipped. Gold also reached $4,435 per ounce Tuesday, its highest level since June 5, as retail investors bought gold ETFs. The SPDR Gold Shares ETF (NYSE:GLD) drew $50 million in single-day retail inflows on August 5, the biggest since mid-March, with total inflows of $637 million that day versus $244 million into U.S. spot Bitcoin ETFs, according to The Kobeissi Letter on X. At the same time, CryptoQuant CEO Ki Young Ju said Bitcoin's 90-day correlation with gold has rebounded from nearly negative 0.9 in early 2026 to around positive 0.7, which he called "digital-gold-era levels." XWIN Japan cautioned that a positive correlation is not automatically bullish and said Bitcoin would need sustained demand and similar reactions to real yields, the dollar and inflation data across multiple timeframes to qualify as a true safe haven. Lawrence McDonald also posted a long-term comparison showing gold up 30% over one year, 76% over two years and 144% over five years, versus Bitcoin down 47% over one year, up 7% over two years and up 40% over five years. Michaël van de Poppe said Monday's Bitcoin drop looked like a liquidity grab from leveraged longs rather than a structural breakdown, and argued gold's recent breakout may precede a similar move in Bitcoin, writing, "I generally believe we'll run to $500,000+,"