Rumors about Binance asset sales have impacted Bitcoin's price drop, while gold continues to set new records.
Binance Rumors and Their Impact on Bitcoin
Recent reports suggested that the crypto exchange Binance allegedly sold off nearly all its holdings in Bitcoin, Ether, and Solana, causing a sharp drop in Bitcoin's price. Binance denied these claims, but the rumors sparked market volatility.
Gold's Record Surge
Gold prices have hit new highs, reaching $2,942 per ounce. This gold surge is accompanied by a significant increase in physical reserves at the largest COMEX vaults, attributed to US liquidity injections and uncertainty over inflation.
Bitcoin's Prospects Compared to Gold
Some experts anticipate that Bitcoin will follow gold's trend and may reach new highs in the next 2-3 weeks. Market analysts are hopeful that Bitcoin's dynamics will be comparable to gold, which tends to reflect itself a few months later.
The situation with Binance has significantly impacted Bitcoin's price, despite optimistic forecasts from some analysts. While gold continues to assert its role as a global hedge, the crypto market remains watchful of developments in the coming weeks.
