Another central bank is starting to sell gold.
The Central Bank of Kazakhstan plans to reduce gold’s share of its reserves from around 78% to 75%. The reason is straightforward: U.S. Treasury yields have been rising, making dollar-denominated assets attractive again.
Over the past few years, central banks around the world have been aggressively hoarding gold, and Kazakhstan has been one of the biggest buyers. This sudden shift shows that central banks don’t just buy gold and hold it forever—when liquidity needs and allocation targets change, they’ll sell too.
For the crypto market, this isn’t huge news, but the signal is clear: dollar assets are back in favor, and the “central banks use gold as a safe haven” narrative is starting to weaken. That’s a tough one for Bitcoin when it’s being pitched as digital gold.
In the short term, it’s still U.S. Treasuries and the dollar calling the shots.
#比特币突破8.3万美元 $BTC
The Central Bank of Kazakhstan plans to reduce gold’s share of its reserves from around 78% to 75%. The reason is straightforward: U.S. Treasury yields have been rising, making dollar-denominated assets attractive again.
Over the past few years, central banks around the world have been aggressively hoarding gold, and Kazakhstan has been one of the biggest buyers. This sudden shift shows that central banks don’t just buy gold and hold it forever—when liquidity needs and allocation targets change, they’ll sell too.
For the crypto market, this isn’t huge news, but the signal is clear: dollar assets are back in favor, and the “central banks use gold as a safe haven” narrative is starting to weaken. That’s a tough one for Bitcoin when it’s being pitched as digital gold.
In the short term, it’s still U.S. Treasuries and the dollar calling the shots.
#比特币突破8.3万美元 $BTC