Bitcoin Slips as Gold Rallies: Diverging Trends in Crypto and Precious Metals

Major cryptocurrencies face persistent pressure this month, unlike gold and silver which rally, reflecting unique risks in digital assets. Bitcoin, Ethereum, Solana, and Dogecoin drop by eleven to twenty percent, while XRP shows relative resilience. Despite a fading dollar index, precious metals gain strength, with gold and silver climbing four and nine percent respectively. Greg Magadini of Amberdata attributes this to bullish news already priced in and fears of a deeper system risk. Fiscal strain in advanced economies, with Japans debt-to-GDP ratio exceeding two hundred twenty percent and the U.S. above one hundred twenty percent, may also impact digital asset treasuries. Golds history of leading Bitcoin price movements suggests a potential strong bid for the cryptocurrency once the yellow metals rally stalls.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.