Bitcoin stays range-bound as gold eyes $12K–$23K long-term target

💡 DMK Insight

Bitcoin’s drop below $90,000 is a wake-up call for traders: it signals potential volatility ahead. As gold inches closer to record highs, the inverse relationship between these assets could lead to a shift in capital flows. Historically, when Bitcoin falters, investors often flock to gold as a safe haven, which could amplify gold’s upward momentum. Traders should keep an eye on Bitcoin’s support levels around $85,000; a sustained break below this could trigger further selling pressure. Conversely, if gold breaks above $2,300 per ounce, it could attract more institutional interest, potentially impacting Bitcoin’s market sentiment. But here’s the flip side: if Bitcoin finds support and rebounds, it might catch gold investors off guard. Watch for Bitcoin’s price action in the coming days, as it could dictate the broader market sentiment and influence related assets like Ethereum and altcoins. The key takeaway is to monitor these levels closely for potential trading opportunities.