Wosh says in one sentence: In one day, gold dropped by more than $120, hitting 4,480, with an intraday low of 4,464.
The market has tossed away rate-cut expectations, and bets on rate hikes are starting to heat up. The U.S. dollar is strengthening—gold first takes the hit, and then crypto: Bitcoin (BTC) is down 3.21% over the past 24 hours, while Solana (SOL) is down 5.13%, and both have bigger declines than gold.
Today there are no safe-haven assets—only assets being dealt with along with the rate-expectation trade. BTC is now treated as the most liquidity-expectation-sensitive thing, not as digital gold.
This kind of commentary has sparked a repricing that may not be over yet. Don’t jump in yet—watch whether the next few days see the dollar and rate-hike expectations continue to push higher.
The market has tossed away rate-cut expectations, and bets on rate hikes are starting to heat up. The U.S. dollar is strengthening—gold first takes the hit, and then crypto: Bitcoin (BTC) is down 3.21% over the past 24 hours, while Solana (SOL) is down 5.13%, and both have bigger declines than gold.
Today there are no safe-haven assets—only assets being dealt with along with the rate-expectation trade. BTC is now treated as the most liquidity-expectation-sensitive thing, not as digital gold.
This kind of commentary has sparked a repricing that may not be over yet. Don’t jump in yet—watch whether the next few days see the dollar and rate-hike expectations continue to push higher.