Bitcoin price news: BTC stuck at $89,000 as gold surges to fresh record
CoinDesk
Gold surged past $5,400 after Fed Chair Powell downplayed its macro significance, while Bitcoin remained flat near $89,000.Summary
Gold prices dramatically increased, soaring 6% to over $5,400 per ounce, following comments from Federal Reserve Chairman Jerome Powell, who cautioned against interpreting the rally as a major macroeconomic signal. Despite Powell's reassurances about inflation credibility, gold bulls drove the rally, while Bitcoin traded in a tight range, stuck around $89,000 and vastly underperforming its precious metal counterpart. This divergence raises questions about Bitcoin's role as "digital gold" and a macro hedge, especially as gold has gained over 90% in the past year while BTC struggles, leading analysts to suggest gold is reclaiming market share from Bitcoin.
(Source：CoinDesk)