Monday, gold and $BTC fell together.
On Kraken, $BTC ~82,698$ (open UTC 84,444, about -2.1%, low 82,566). PAXG (or tokenized) ~4,162$ (-2.2%, low 4,148). Same slope, same window. Fear & Greed remains at 74 (Greed).
Metals side (Bitcoin.com, Asia session / US start): Comex gold ~-2.11% to around 4,197$, silver ~-3.59% to around 62.47$, meaning roughly 550B$ of value wiped out in a few hours. Drivers: oil (Brent ~107$), 10Y US at 5.20%, DXY ~101.4, and ~68% odds of a Fed hike in October (CME FedWatch).
Takeaway: the geopolitical premium went into oil, not into gold. Yields hit non-yielding assets. And the "digital gold" narrative didn’t play out: no safe-haven rotation into $BTC ; it slid alongside the metals (Bitwise often notes this: institutions treat it more like a growth asset when rates rise).
Scenarios:
A) Soft PCE / yields cooling → gold and $BTC can bounce together
B) Yields stay elevated + hawkish → prolonged pressure on metals and crypto risk
Are you still treating $BTC as a gold hedge, or as a rates-linked risk asset?
$BTC $ETH #Bitcoin #Gold #Macro
On Kraken, $BTC ~82,698$ (open UTC 84,444, about -2.1%, low 82,566). PAXG (or tokenized) ~4,162$ (-2.2%, low 4,148). Same slope, same window. Fear & Greed remains at 74 (Greed).
Metals side (Bitcoin.com, Asia session / US start): Comex gold ~-2.11% to around 4,197$, silver ~-3.59% to around 62.47$, meaning roughly 550B$ of value wiped out in a few hours. Drivers: oil (Brent ~107$), 10Y US at 5.20%, DXY ~101.4, and ~68% odds of a Fed hike in October (CME FedWatch).
Takeaway: the geopolitical premium went into oil, not into gold. Yields hit non-yielding assets. And the "digital gold" narrative didn’t play out: no safe-haven rotation into $BTC ; it slid alongside the metals (Bitwise often notes this: institutions treat it more like a growth asset when rates rise).
Scenarios:
A) Soft PCE / yields cooling → gold and $BTC can bounce together
B) Yields stay elevated + hawkish → prolonged pressure on metals and crypto risk
Are you still treating $BTC as a gold hedge, or as a rates-linked risk asset?
$BTC $ETH #Bitcoin #Gold #Macro
