Bitcoin News Today: Bitcoin's Rally Challenges Gold's Reputation as a Safe Haven, Value Falls Under $4,000
- Gold fell below $4,000/oz as geopolitical tensions eased and U.S.-China trade talks progressed, weakening its safe-haven appeal. - Silver dropped near $46/oz amid profit-taking and Fed rate-cut expectations, despite strong annual gains and structural supply deficits. - Bitcoin's surge above $115,000 highlighted cryptocurrencies as a "new gold," shifting investor preferences in inflationary uncertainty. - Analysts noted short-term volatility but emphasized intact long-term fundamentals for gold, with mark
Gold Drops Below $4,000; Silver Hovers Around $46 as Safe-Haven Demand Fades
On October 24, gold prices dipped beneath $4,000 per ounce, reversing sharply from recent record highs as investors scaled back their bullish positions due to easing geopolitical risks and changing market conditions. After reaching an all-time high of $4,375 on October 20, gold plunged 6.69% in a single session on October 21—its steepest daily loss since 2013—before settling at $4,142 by October 23. Silver also declined, trading close to $46 per ounce as profit-taking and mixed global signals weighed on precious metals, according to an
The downturn coincided with progress in U.S.-China trade talks, where officials from both countries achieved a
Silver’s movement echoed gold’s, with MCX futures falling 0.93% to ₹1,47,126 per kilogram. Despite a 65% surge over the past year and a record high of $54.47 earlier, silver has come under selling pressure as traders anticipate a Federal Reserve rate cut and improved U.S.-China ties, as noted in
The strong U.S. dollar and a shift toward riskier assets have also dampened gold’s performance.
Global attention is now on the upcoming U.S. CPI data and the Trump-Xi summit, with experts anticipating more insight into trade disputes and monetary policy. While gold ETF holdings are still close to all-time highs at 98.64 million ounces, COMEX stockpiles have dropped 13.55% since their April peak, indicating tighter supply and demand, according to Business Standard.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
DeFi Faces Stability Challenge: USDX Redemption Issues Reveal Underlying Systemic Risks
- Whale investor 0xe454 spent $800,000 to buy 933,241 USDX tokens during its 2025 depeg to $0.3887, betting on recovery. - Redemption delays for both recent and prior 1.4M USDX purchases raised concerns over protocol stability and liquidity risks. - Lista DAO's emergency vote (LIP 022) aims to liquidate USDX positions amid 800% borrowing rates, mirroring 2025 xUSD collapse risks. - Experts warn cross-collateralized DeFi structures amplify systemic risks, urging stronger collateral diversification to preven
Fed’s QE Strategy: Could AI Mania Lead to a Repeat of the 1999 Bubble?
- Billionaire Ray Dalio warns Fed's shift to QE risks inflating an AI-driven bubble akin to 1999's dot-com crash. - He criticizes reinvesting MBS proceeds into Treasury bills as monetizing debt while cutting rates amid large fiscal deficits. - Analysts highlight risks of reduced T-bill supply, lower yields, and repo market strains from Fed's $15B/month Treasury demand. - AI sector valuations and corporate earnings will test Dalio's concerns as November inflation data and PMI reports approach.
Solana Latest Updates: Sonami Advances Layer 2 Despite Solana’s Unstable Market Forecast
- Sonami ($SNMI) launched a Solana Layer 2 token to reduce congestion and boost efficiency, raising $2M in presale. - The $0.0019 token allocates 83B tokens for marketing, treasury, and development, targeting high-frequency DApps. - Solana's price fluctuated between $170-$190 amid upgrades and macroeconomic factors, with bearish derivatives signals noted. - Sonami's Layer 2 initiative aligns with Solana's scalability goals, supporting 2,500 developers and enterprise applications. - Presale success reserves
Solana News Update: Sonami's Layer 2 Seeks to Restore Solana's User Base Amid Intensifying Competition
- Sonami ($SNMI) announced a continued token presale and launched Solana’s first Layer 2 token to address scalability issues. - The project aims to reduce congestion by bundling transactions, raising $2M at $0.0019 amid Solana’s 30% Q3 user decline. - 40% of 82.999B tokens allocated for development/listings; team includes Solana veterans and fintech experts. - Presale success reflects investor confidence in Solana’s growth amid Layer 2 competition from Ethereum-based rivals.
Trending news
MoreCrypto prices
More
