Gold Hits Record High as Bitcoin Falls on Escalating US–EU Tariff Tensions
Gold reached a record high while Bitcoin fell as escalating US-EU tariff tensions over a proposed Greenland purchase drove investors toward traditional safe havens.Summary
Escalating trade tensions between the US and the EU, triggered by President Trump's announcement of tariffs on eight European nations pending the purchase of Greenland, caused a divergence in asset performance. Gold surged to a new all-time high of $4,690/oz, and silver also rose, reflecting traditional safe-haven demand amid geopolitical uncertainty. Conversely, Bitcoin dropped below $95,000, trading at $92,574, as it behaved like a risk asset, leading to over $864 million in liquidations, primarily long positions. This contrasting movement highlights gold's established role as a store of value versus Bitcoin's continued correlation with broader risk sentiment. Analysts are divided on Bitcoin's future, with some predicting it will lag gold and potentially crash, while others anticipate a rotation of profits from gold into Bitcoin later in the cycle.
(Source：BeInCrypto)