$90K BTC vs. record gold price: 5 things to know in Bitcoin this week
Bitcoin faces divergence as traders debate a move toward $90K or a drop to yearly lows amid record gold prices and Japanese economic uncertainty.Summary
Bitcoin is at a critical juncture with bulls and bears polarized on its near-term direction, with some analysts anticipating a sweep of lows toward $73K-$72K, while others target an aggressive year-end pump toward $94.5K and the $100K resistance, contingent on clearing the 50-day EMA near $93,500. This price action occurs while gold and silver hit new all-time highs, partly driven by volatility stemming from Japan's record bond yields (2.1%) and central bank actions. On-chain data suggests a bear market, with the Bull-Bear Market Cycle Indicator at multiyear lows, echoing 2018 conditions, and persistent selling pressure from US investors reflected in the negative Coinbase Premium. Despite the overall market sentiment being one of "extreme fear," some contrarian analysts suggest this pessimism primes the market for a strong upward move, following historical patterns where prices move opposite to retail expectations.
(Source：Cointelegraph)