Crypto Markets Today: Gold tokens shine while BTC price rises to $89,000

Gold-backed tokens, including XAUT, PAXG, and KAU, reached all-time highs, pushing the total market value of these assets to $4.38 billion, reflecting investor hedging against macro uncertainty. Bitcoin climbed to $89,800, supported by a dropping dollar index and gains in Asian tech stocks like Taiwan Semiconductor Manufacturing. Despite the price uptick, institutional appetite appears cooled, evidenced by a net $952 million outflow from digital asset investment products last week and dwindling CME BTC futures open interest. Derivative markets show mixed signals, with BTC longs on Bitfinex rising, but overall implied volatility remaining steady or low for BTC and ETH, suggesting dull trading as the year ends. Separately, the Curve DAO voted down a proposal to send $6.3 million in CRV tokens to Swiss Stake AG for development funding, due to concerns over transparent reporting of past expenses.

(Source：CoinDesk)