A recent report by analytics firm Glassnode highlights the resilience of Bitcoin and Gold amid changing macroeconomic conditions.
Macroeconomic Uncertainty and Assets
Analytical firm Glassnode reports that the macroeconomic environment remains uncertain as global trade relations are realigning. Despite this, hard assets like Gold and Bitcoin are performing well.
Gold at All-Time High
As of April 16, Gold prices reached a record value of $3,354 per ounce, increasing by 26% since the beginning of the year as investors flock to safe-haven assets. Consequently, gold and Bitcoin are becoming central assets in changing trade relationships.
Bitcoin Price Outlook
Currently, Bitcoin hit an intraday high of $85,300 but traded around $84,340 during the Thursday morning session. The asset has been tightly range-bound at this price level for the past five days, maintaining a three-month downtrend, which is softening, potentially leading to a longer consolidation period before any breakout.
Thus, despite the instability in global financial markets, Gold and Bitcoin demonstrate high performance, indicating growing investor interest in these assets.
