Is Bitcoin reacting to gold’s decline and recent policy shifts?

We’re seeing an interesting divergence - gold prices dropping 6% while BTC climbs past $113K.

Then TRUMP: New tariffs on China will rise to 155% effective November 1. Then BTC dips down to $108K

Some say it’s tied to easing rate expectations and renewed risk appetite, and even Bitcoin’s starting to replace gold’s “safe haven” narrative.

Curious what everyone’s watching - macro signals, policy updates, or pure crypto flows?