BTC, GLD price news: Bitcoin trades at $68,300 as gold crashes for a ninth day
Bitcoin maintains $68,300 while gold falls for the ninth consecutive day amid geopolitical tensions and dropping Asian stocks.Summary
Bitcoin is currently trading at $68,316, showing relative stability compared to other assets as the conflict in Iran enters its fourth week. This contrasts with gold, which has experienced a nine-day losing streak, dropping to around $4,360, and Asian stocks, which are facing a potential correction. The situation is further complicated by rising bond yields and increased crude oil prices, with Brent crude up over 70% year-to-date. Experts suggest the gold sell-off is linked to a reversal in buying from China and other nations seeking to decouple from Western markets. Despite the macro uncertainty, Bitcoin's price and derivatives markets have remained relatively resilient, leading some analysts to predict a potential upside surprise. The market is closely watching for a response to a recent ultimatum regarding the Strait of Hormuz.
(Source：CoinDesk)