Gold Skyrockets past $ 4K, Bitcoin (BTC) looked south while the dollar index hits 2-month
Bitcoin And the gold (xau) has moved over the past 24 hours, with BTC likely to feel pressure from a dollar index strengthening.
Top cryptocurrency by market value dropped by 2.4% to $ 121,340, after failing to break the main resistance above $ 126,000 early this week, according to CoinDesk data. CoinDesk 20 index declined more than 4% to 4,186 points.
The refusal will come during the dollar index, which monitors the rate of exchange of greenback against a basket of fiat currencies, has risen to 98.90, the highest level since August 5.
DXY strength usually weighs USD-denominated assets, such as BTC and gold. BTC price chart suggests scope for A deeper decline of $ 118,000.
The BTC struck the record of over $ 126,000 early this week, as the US listed areas listed in the US more than $ 3 billion on the week ended Friday.
The gold driven higher by ETF flowers
While the BTC rally was stuck, gold did not show signs of slowing down, as its per-ounce price passed $ 4,000 for the first time in its history.
According to ING, the recent rally has been catalyzed by a flowing outflow in gold-related funds (ETF).
“Investors are adding Golden ETFs to a fast pace. Last week, back-traded funds expanded again, taking the total Golden Golds to the highest level since September 2022. There are still many rooms for additional additions, given the current total remaining shy of the peak hit by 2020. Ing analysts.
Prices have doubled in two years, threaded by the middle banks to buy yellow metal to vary from the US dollar. President Donald Trump’s aggressive trade policy and conflicts in the Middle East and Ukraine have been added to the bullish momentum.
Gold tokens such as PAXG (PAXG) Also rise above $ 4,000. The combined market value of all gold tokens rose above $ 3 billion.
