From Morningstar:

A ‘swarm of hype locusts’ are buying into bitcoin, which has been climbing alongside gold and major stock indexes. Rising asset prices bolster bullish sentiment and encourage more investment. Gold futures hit a record $2,185.50 an ounce, while bitcoin reached over $70,000. Analysts expect continued market strength in various assets due to increased liquidity and interest in riskier investments. Investors are drawn to bitcoin as an alternative to gold due to media attention and ease of access through ETFs. Gold and bitcoin prices are expected to rise with more buying than selling. Comparing the S&P 500 to gold prices can determine investor confidence, with the current ratio indicating equal confidence in stocks and gold. A ratio above 2.75 signifies higher stock confidence, while below 2.0 indicates more faith in gold. Markets are poised for continued growth as central banks indicate potential interest rate cuts, strengthening assets like gold and bitcoin.



Read more at Morningstar: Here’s why gold, bitcoin and stocks are all hitting new highs