“Despite Holding Similar Properties, Gold and Bitcoin Have Been Moving in Opposite Directions of Late.”, – WRITE: www.coindesk.com
To wit, Gold have seen what sems like new Record Highs on a Daily Basis for the Past Few Weeks. Bitcoin, Meanwhile, Despite Living in a World with the Same Bullish Catalysts – EASING MONETARY Policy, Etf Inflows, Rising Corporate Adoption – Hasn’n Been ABLE.
The Action Suggests Bitcoin May Not ABLE TO MOVE INTO A NEW SUSTAINED UPSWING UNTIL INVESTORS COOL ON THE YELOW METAL.
Indeed, Gold Wednesday Is Having A Rare Day in the Red – Down 1.5% to $ 3.759 per Oünknce – Perhaps “ALLOWING” BITCOIN to HAVE WHAT SEMS LIKE An equly
Longer-Term Chart Tells A Different StoryWHILE GOLD AND BITCOIN MAY SEEM to be MOVING IN OPPOSITE DIRECTIONS IN THIS CYCLE, LOGIC Wuld Seem to Dictate That Both Assets – Should at Least Kind of Track Over Longer Periods.
That appears to be the caase. Year-to-Date Gold Has Gained 42% Easily Outpacing Bitcoin’s 22%, But at Least Showing Both Moving in the Same Direction. Going Back to the Start of 2024, Gold Is Higher by 82% Against Bitcoin’s 155% Advance.
And Since the Start of 2023, Gold Has More Than Doubled, WhitCoin is up More What Six-Fold (Thought That’s Measure from the Nearly The Bottom of 2022’s Crypto Winter).
Xlm’s Sharp Swings Highlight Heavy Institutional Flows, with Support at $ 0.36 Proving Pivotal for a Potential Breakout.
- XLM Droped to $ 0.36 On Outsized Volume, Confirming the Level As Key Support.
- Trading Surges in Both Asian and Late-Session Hours Suggest Large-Scale Participation.
- HOLDING ABOVE $ 0.36 Keeps Alive The Possibility of A Triilale Breakout Town $ 0.50.
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