Bitcoin Surges To $97K, Gold Hits $3,300, What’s Fueling This Rally?
Several markets were seen witnessing a major shift in sentiment. The world’s largest cryptocurrency, Bitcoin (BTC), and Gold were pocketing massive gains. The sudden uptick in the prices of these assets was related to macroeconomic events as well as changes in investor sentiment.
Also Read: Goldman Sachs Predicts $3,700 Gold by Year-End Surge
A Look Into The BTC Market
The king coin has been struggling in terms of price. Bitcoin managed to rise all the way to a high of $109,114.88 in January 2025. But the asset failed to retain itself above the $100,000 mark. Recently, BTC jumped back above $90,000 after a long stay below this price level. The past 24 hours have been extremely bullish for the king coin as it rose by 2.28%. At the time of writing, BTC was trading at $96,552.21. Earlier today, the asset rose to a high of $97,625.81.
Bitcoin’s uptick comes around the same time the Federal Open Market Committee wrapped up its two-day meeting. It is anticipated to maintain interest rates at 4.25% to 4.50%. Following recent indications of persistent inflation and waning consumer demand, markets will be monitoring for any changes in tone when Chair Jerome Powell makes his speech shortly after.
Ahead of the Fed’s announcement, Bitcoin investors could be lining up in anticipation of any signs that may affect asset values.
Also Read: Japan’s $1.1 Trillion in U.S. Treasuries: A New Weapon in Economic Warfare
What Is Happening With Gold?
Amid the recent excitement around the news of the US-China trade negotiations in Switzerland this week, the price of gold was seen recovering. The asset was hovering around $3,360. In addition, with experts pointing to a resurgence of Chinese investors in the asset market and central banks looking to reduce exposure to U.S. assets, particularly the dollar, U.S. gold futures also saw a 1.3% increase. Lastly, the market believes that amidst the increased geopolitical uncertainties, gold might be viewed as a safe haven asset.
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Bitcoin Surges To $97K, Gold Hits $3,300, What’s Fueling This Rally?
Several markets were seen witnessing a major shift in sentiment. The world’s largest cryptocurrency, Bitcoin (BTC), and Gold were pocketing massive gains. The sudden uptick in the prices of these assets was related to macroeconomic events as well as changes in investor sentiment.
Also Read: Goldman Sachs Predicts $3,700 Gold by Year-End Surge
A Look Into The BTC Market
The king coin has been struggling in terms of price. Bitcoin managed to rise all the way to a high of $109,114.88 in January 2025. But the asset failed to retain itself above the $100,000 mark. Recently, BTC jumped back above $90,000 after a long stay below this price level. The past 24 hours have been extremely bullish for the king coin as it rose by 2.28%. At the time of writing, BTC was trading at $96,552.21. Earlier today, the asset rose to a high of $97,625.81.
Bitcoin’s uptick comes around the same time the Federal Open Market Committee wrapped up its two-day meeting. It is anticipated to maintain interest rates at 4.25% to 4.50%. Following recent indications of persistent inflation and waning consumer demand, markets will be monitoring for any changes in tone when Chair Jerome Powell makes his speech shortly after.
Ahead of the Fed’s announcement, Bitcoin investors could be lining up in anticipation of any signs that may affect asset values.
Also Read: Japan’s $1.1 Trillion in U.S. Treasuries: A New Weapon in Economic Warfare
What Is Happening With Gold?
Amid the recent excitement around the news of the US-China trade negotiations in Switzerland this week, the price of gold was seen recovering. The asset was hovering around $3,360. In addition, with experts pointing to a resurgence of Chinese investors in the asset market and central banks looking to reduce exposure to U.S. assets, particularly the dollar, U.S. gold futures also saw a 1.3% increase. Lastly, the market believes that amidst the increased geopolitical uncertainties, gold might be viewed as a safe haven asset.
Read More