Bitcoin fell below $77,000, with market focusing on geopolitical risks and Fed policy; gold tokens rose as safe-haven demand and yield dynamics persist.
Today's market shows a tug-of-war between risk-off and risk-on sentiment. Bitcoin edged down to $77,340, pressured by geopolitical tensions and expectations of possible U.S. rate hikes; gold tokens rose on safe-haven demand. U.S. strikes on Iran pushed oil prices higher, exacerbating inflation concerns and potentially prompting the Fed to maintain a hawkish stance. On the regulatory front, New Jersey petitioned the Supreme Court over prediction markets, and Thailand implemented the travel rule, indicating tightening global crypto regulation. Overall market sentiment is cautious, with investors focusing on geopolitical events and Fed actions.
Crypto market under pressure: Bitcoin fell 0.17% to $77,340.01, Ethereum dropped 1.12% to $2,391.92, while Solana and BNB rose 0.44% and 0.81% respectively, showing divergence. On-chain data shows Bitcoin demand turning negative, with price struggling around 77K. Regulatory headwinds (such as Thailand's travel rule) and geopolitical risks weigh on risk assets, but institutions continue to position, e.g., Coinbase launching derivatives in Canada and Hashkey joining the DTCC working group, indicating long-term confidence. Arthur Hayes believes Bitcoin will rise slowly, but favors Ethereum for short-term upside.
Gold tokens XAUT and PAXG rose 1.26% and 1.14% to $4,385.06 and $4,399.86, reflecting safe-haven demand. Although rising U.S. real yields typically pressure gold, geopolitical conflict (U.S. strikes on Iran) and falling stocks boost gold's safe-haven appeal. Analysts note gold faces psychological resistance at $4,444, with near-term candlestick patterns crucial. Additionally, weaker-than-expected ADP data may support gold, but markets focus on the nonfarm payroll report.
This briefing is generated automatically from public sources for reference only and is not investment advice. Markets carry risk; make your own decisions.
