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Whales hedge $1.38B in BTC and XRP as gold hits new August highs amid US debt crisis fears

Market News
24 Aug 2026, 16:22 WIB
UToday
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Neutral
Whales hedge $1.38B in BTC and XRP as gold hits new August highs amid US debt crisis fears

Major crypto market makers have locked $1.38 billion in short hedges on Bitcoin, Ethereum, and XRP, not to bet on a crash but as a risk management strategy during a US debt crisis. Gold prices surged to a fresh August high of $4,659, driven by Treasury moves and investor flight from US government bonds. Legendary investor Ray Dalio recommends shifting from Treasuries to gold and Bitcoin to protect against inflation and debt risks. Institutional inflows into Bitcoin ETFs hit a 10-month high, signaling strong demand amid market uncertainty, with Bitcoin holding steady near $78,143 and poised to challenge $100,000 by year-end.

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Seven major cryptocurrencies, including Bitcoin, fell over 24 hours with steepest drop in AudaCity token.

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