Bitcoin taps $110K as BTC price diverges from 5% gold correction

Bitcoin (BTC) showed renewed volatility, briefly reclaiming the $110,000 level after bouncing from the CME futures gap, though liquidity conditions remained choppy. Analysts noted that derivatives funding rates indicated a risk-off sentiment, with significant selling pressure noted above $116,000. Trader Rekt Capital highlighted the 21-week exponential moving average (EMA) as crucial resistance, emphasizing that BTC must hold the historical demand area as support to position for reclaiming the EMA. Concurrently, gold, after hitting all-time highs, suffered a sharp daily loss of over 5.5%, raising concerns about a potential "double top" bearish reversal. Some analysts suggest that a pullback in gold's historic bull run could ultimately benefit riskier assets like Bitcoin and altcoins.

(Source：Cointelegraph)