BTC price analysis: Bitcoin trader warns of downside as gold rally continues

Bitcoin prices stabilized around the $88,000 level following the Federal Reserve's decision to hold interest rates steady, but the cryptocurrency continued to underperform against macro assets like gold and silver. The U.S. dollar strengthened after the Treasury Secretary reaffirmed a strong-dollar policy, which coincided with a pullback in crypto prices. Commodities, particularly gold which neared record highs, remained the dominant trade, driven by geopolitical risk and demand for value stores amid financial uncertainty. Analysts note that Bitcoin is behaving more like a high-beta risk asset, reacting to dollar swings rather than acting as a true inflation hedge against gold's surge. A market analyst pointed out that Bitcoin is struggling to consolidate above the $89K resistance level, reinforced by the 50-day moving average, suggesting a bearish market structure despite defending support near $85K.

(Source：CoinDesk)