WASHINGTON, April 20, 2026 - The International Monetary Fund has issued a stark warning that the US dollar remains the world's dominant safe haven asset despite Bitcoin's dramatic surge during the US-Iran conflict, which saw the cryptocurrency outperform gold as investors fled traditional hedges. In a report released today, the IMF confirmed that recent war dynamics have ultimately reinforced dollar supremacy, delivering a sobering reality check to crypto bulls who had celebrated Bitcoin's perceived safe-haven breakthrough.

The IMF says the US dollar Is The Ultimate Safe Haven Asset

In traditional war narratives, gold was the only primary asset that saw credible price spikes as investors rushed to safeguard their assets by buying a stake in the precious yellow metal. However, the ongoing US-Iran war saw a different scenario taking over the sector. The domain witnessed the strengthening of the US dollar, with gold crashing down the line. As investors expected the Fed would continue to keep the interest rates higher during the war, the US dollar continued to gain momentum, with gold taking a backseat this time.

This development reinstated the fact that the US dollar continues to be an incomparable safe haven asset, a fact reiterated by the IMF itself. The organization’s chief economist, Pierre-Olivier Gourinchas, said that the dollar’s free fall last year was concerning, but the fact that it grew throughout the war proves how dependable a safe haven the dollar truly is.

Will Gold Be Able To Flip The Switch?

While the world applauds the US dollar’s current progress, the majority of the analysts are forecasting bullish predictions for gold, flipping the current switch.

Per Rashad Hajiyev, gold is on cards to hit $7K, with a bold call for the metal to hit $8K also on cards for the asset.

Previous gold's breakout resulted in 65% gain over 5 months period. Every leg up in this bull run that started in October 2023 become steeper and forms faster. Hence, I would not be surprised if gold reaches $8k or rallies the same 65% within 3-4 months or by late summer 2026… pic.twitter.com/d6WKYvXzNs