U.S. Consumer Sentiment Craters in First Post-Tariff Read, but Crypto Is Holding Up
Gold soared to a new record high as the selloff in the U.S. dollar and long-term Treasuries continued in force on Friday.
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Gold soared to a new record high as the selloff in the U.S. dollar and long-term Treasuries continued in force on Friday.
Gold continues to be the star of the cycle, jumping to a new record above $3,050 per ounce.
Bitcoin managed a knee-jerk move above $84,000 after the U.S. CPI report, but returned to roughly flat for the day.
Macro uncertainty combined with carnage in most of the rest of crypto is weighing bitcoin down.
Ondo Finance’s native token, MANTRA’s OM and Chintai’s CHEX posted double-digit gains during the crypto rebound, while many altcoins still nursed losses.
Bitcoin’s dip to $100,000 was quickly bought up and its outlook still remains “bright,” one analyst said.
The selloff in stocks and cryptocurrencies could mean Donald Trump’s inauguration will less likely be a sell the news event, K33 Research said.
Mining stocks including WULF, BTDR, IREN and HUT dropped over 5%, while BTC holder medical devices firm Semler Scientific plunged 10%.
Altcoins as a group outperformed bitcoin, with AVAX and LINK leading sector gains.
Bitcoin is again outperforming, sliding just 3% back to $95,000.