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Bitcoin gave back its entire post-golden-cross advance as markets awaited an afternoon Senate vote on the Clarity Act and faced the prospect of a Federal Reserve rate hike.
Strike CEO Jack Mallers says the debate over Fed rate hikes versus cuts misses the key risk, arguing that either path could lead to inflation as US debt-to-GDP exceeds 120%.
Stack BTC, backed by Nigel Farage, plans to acquire a gold dealer for $16 million. The proposed deal would use cash flow from precious-metals sales to increase the company’s bitcoin holdings, CoinDesk reports.
The FCA is working with the Treasury on a possible bespoke framework that would exempt tokenized gold from traditional fund rules, in an effort to support London’s gold market.
The UK FCA is seeking views on possible fund-rule exemptions for some tokenized gold products, warning that regulatory uncertainty could affect adoption and investor access.
Goldman Sachs has dropped its forecast that the Federal Reserve will hold rates next week, becoming the last major bank to do so. CoinDesk frames the debate as increasingly focused on Wall Street rather than inflation.
Decrypt reports that Bitcoin’s near-term technical outlook has changed as rate-hike bets strengthen. The cryptocurrency’s golden-cross signal is flickering off amid rapidly shifting expectations in the interest-rate market.
Bitcoin has pulled back following another golden cross. CoinDesk reports that the signal may support the longer-term outlook, while historical patterns indicate much of the upside often arrives before the crossover appears.
Bitcoin’s rally has cooled amid an inflation-driven selloff, but its chart is nearing a golden cross—the first potential shift of this kind since November, according to Decrypt.
Bitcoin traded near $78,000 while Brent crude rose above $102 and gold fell below $4,400. Treasury yields climbed further, and technology futures weakened, according to CoinDesk.
Bitcoin reached $79,700 as Brent crude topped $100 and European shares fell after Iran strikes. CoinDesk said the cryptocurrency tracked gold more closely than equities during the market move.
Bitcoin is defending its “golden zone” support while the S&P 500 trades in a tight range. An oil shock has revived Fed hike expectations, with Friday’s inflation report due before the September 16 rate decision.
CoinDesk reports that Bitcoin’s daily chart has triggered a golden cross, a technical signal indicating the potential for a longer-term bullish trend in the cryptocurrency.
CoinDesk says Bitcoin has shown a smaller reaction than gold when Treasury yields move. The Sept. 7 briefing also flags Chainlink and the MOVE index as related assets, without providing yield levels or price data.
Bitcoin is meeting a sell wall near $83,000 as all wallet cohorts move into net distribution for the first time since early June. A potential golden cross provides a positive technical signal for bulls.
Bitcoin is struggling near the $83,000 resistance level as all wallet cohorts enter net distribution for the first time since early June. A potential golden cross offers a contrasting bullish signal.
Bitcoin and gold have reached their highest 90-day correlation since 2020, at about 0.55. Bitcoin volatility is 36.2% versus gold’s 25.3%, narrowing the volatility ratio to 1.43 times.
Bitcoin now buys slightly more than 18 ounces of gold, the strongest bitcoin-to-gold ratio since January. CoinDesk linked the joint rally in both hard assets to concerns about inflation reducing government debt burdens.
