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Bitcoin trades near $63K as big banks cut 2026 targets; gold hits $4,400 amid rising central bank demand.

Market News
16 Aug 2026
Blockonomi
View Source
Neutral
Bitcoin trades near $63K as big banks cut 2026 targets; gold hits $4,400 amid rising central bank demand.

Bitcoin is trading around $63,038, about 19% below its May peak near $77,500, prompting some skepticism about its future value. Citi, Standard Chartered, and TD Cowen have all lowered their 2026 Bitcoin price targets, reflecting softer demand and regulatory uncertainties. Meanwhile, gold prices have surged past $4,400 an ounce, supported by a 62% increase in central bank purchases, highlighting gold's continued strength as a defensive asset. This contrast underscores ongoing debates about Bitcoin's role as a hedge versus traditional safe havens like gold.

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