Gold and silver prices plunged sharply, losing about $700 billion in market value in one day amid Iran's threat to close the Bab el-Mandeb Strait, a key shipping route. Gold dropped below $4,000 per ounce and silver fell to a seven-month low under $55.50. Despite this turmoil, Bitcoin remained stable near $64,000, showing resilience as a rare safe-haven asset compared to precious metals. The selloff was driven by a stronger dollar, rising US interest rate expectations, and significant outflows from gold ETFs, while investors moved funds into US dollars and short-term Treasuries. The key question now is whether Bitcoin can maintain its support level around $63,000 as gold and silver search for a bottom.
Bitcoin's price stabilized between $63,000 support and $65,000 resistance as two whales placed nearly $226 million in short bets, adding selling pressure. Despite this, broader market data showed more buying than selling in derivatives, suggesting mi...
A Bitcoin wallet accidentally paid 1.6 BTC (about $102,778) entirely in network fees without transferring any coins. This happened because an automated script repeatedly increased the transaction fee using Replace-by-Fee (RBF), eventually consuming t...
Bitcoin fell to around $63,500 following July's inflation report that matched expectations, leading to a drop in the probability of a September Federal Reserve rate hike from 46% to 38%. The inflation data reassured markets but did not spark strong g...
Bitcoin fell to around $63,500 following July's Consumer Price Index data that matched analyst expectations, easing immediate concerns about Federal Reserve rate hikes but failing to boost crypto markets. The probability of a September Fed rate hike ...
Bitcoin showed only a mild 0.5% gain after the US July CPI matched expectations at 3.4%, failing to break the $65,000 resistance. While lower rate hike odds for September eased some pressure, the muted market reaction questions the strength of the so...
