Bitcoin Slips to $88K as Asian Markets Turn Mixed, Gold Hits Record

• Ether and XRP were down by 0.6% and 0.1% and stood at $2,990 and $1.89, respectively.
• Gold and silver have surged to hit new all-time highs as investors are loyal towards physical assets, and oil has also hit a four-month high.

Today, the price of Bitcoin hovered around $88,000 as the Asian markets dropped out of a hot streak in tech, and investors moved towards earnings, central bank indications and a fresh run higher in gold. 

In the market, Shanghai witnessed a rise of 0.21%, and DJ Shanghai surged 0.22%. On the other hand, the SZSE Component fell 0.10%, and the China A50 also slipped 0.20%. Hong Kong shone as the Hang Seng surged 1.22%. 

Talking about the developments of the crypto market, Bitcoin was down by 0.7% and stood at $88,527. Ether and XRP were down by 0.6% and 0.1% and stood at $2,990 and $1.89, respectively. The overall capitalisation of the crypto market stood at $3.08 trillion, being down by 0.6%. 

The Bidirectional Market

The senior market analyst at FXTM, Lukman Otunuga, stated that markets are being pulled bidirectionally. In one direction, optimism regarding global equities and prominent tech earnings is backing risk appetite, and the other direction holds consistent trade uncertainty, sharp currency moves, and doubts revolving around US fiscal and monetary policy. 

He further went on to mention that with the value of the dollar still volatile, big tech earnings are being considered for a prominent share of the S&P 500, and the upcoming days could set the tone for risk sentiment well beyond this week. 

Gold and silver have surged to hit new all-time highs as investors are loyal towards physical assets, and oil has also hit a four-month high, followed by the warning of President Donald Trump of possible attacks if it did not make a deal on nuclear weapons.

Currency markets were volatile as the dollar was under pressure, even after US Treasury Secretary Scott Bessent recapitulated the preference of the administration for a strong dollar, and European officials looked after the surge of the euro as the European Central Bank indicated that a steep move could impact rate decisions.

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