Bitcoin bounce fails, with price falling back to $77,000 while precious metals renew surge

Bitcoin failed to sustain its bounce above $79,000, falling 2% to around $77,100, while Ether dropped 4.7% to $2,260. This decline in crypto assets coincided with strong gains in precious metals, with silver up nearly 15% and gold approaching $5,000 per ounce. U.S. stocks, particularly AI-related names like Nvidia and Microsoft, were also declining. Publicly traded crypto holders like MicroStrategy saw declines, though some Bitcoin miners transitioning to AI infrastructure, such as TeraWulf, posted gains following positive operational news. Analysts suggest options market data indicates traders are expecting a short-lived bounce, noting that high demand for downside protection has created backwardation in the volatility curve, signaling that a true bottom is not yet confirmed.

(Source：CoinDesk)