CandleFocus Is Massive Gold Pump Reason for Bitcoin (BTC) Drop?
2024-10-02
Author: Content Editor
This news content discusses the debate surrounding whether Bitcoin can be relied upon as a store of value compared to gold. The article highlights how Bitcoin's price has decreased while gold has seen a significant increase. It emphasizes that many investors doubt Bitcoin's ability to serve as a hedge against economic unrest, as gold has been perceived for decades. The article explains that Bitcoin is currently seen as a risk-on asset and is impacted by market uncertainty, leading to sell-offs. However, it suggests that Bitcoin's decentralized structure and scarcity make it comparable to gold as a potential hedge in the future. The article acknowledges that Bitcoin is still in its early stages as an asset class, while gold has long been recognized as a store of value. It notes that Bitcoin's current market perception is closely tied to risk-on environments but implies that it has the potential to become digital gold as more institutional investors become interested. Overall, the article suggests that Bitcoin's current drop is reflective of short-term market sentiment rather than a fundamental flaw in its long-term prospects.
Related News
Republican Senate Candidate Blasts Crypto PAC Fairshake Over Snub: ‘They Needed a Democrat’ First Statement From Ripple After SEC Appeals In XRP Case Fantom price gains 70% in 30 days — What’s driving FTM? SEC files appeal in Ripple lawsuit SEC files appeal in Ripple case, putting XRP ETF on hold Top Blockchains by Monthly Active Addresses: A Detailed Look New Price Prediction from Legendary Analyst il Capo as Bitcoin Plummets Worldcoin (WLD) Price Drops, with FTX Sale Set to Increase Pressure Will XRP Spot ETF Be Approved? Analyst Reveals the Condition Robinhood is seeing ‘a lot of engagement’ from retail users Franklin Templeton submits Bitcoin & Ethereum index ETF proposal to SEC Poland’s Pekao Bank using blockchain to preserve art in arctic vault $DEGEN Leads Crypto Gainers with 106.6% Surge on October 2nd The XRP ETF filing: A sign of regulatory progress or wishful thinking? Court revives 2020 AT&T case over $24M crypto theft via SIM swap Sui Price Skyrockets 140% in September; Is ATH Possible for SUI? DEGEN Active Addresses Surge: Blockchain Activity Doubles in a Week ‘Thousands’ Flock to World Liberty Financial Whitelist Following Trump’s Announcement PayPal’s stablecoin flows out of Solana as incentives wane Hester Peirce: SEC Needs Clarity on Crypto Securities Language US Presidential Campaigns: 49% of Retail Investors Adjust Portfolios Ahead of Polls Bitcoin Price Drop Causes 6.4K BTC Loss for Short-Term Investors Options Traders Betting Big on Bullish October for Bitcoin (BTC), According to Analytics Firm Kaiko Monero (XRM) Price Faces 7% Drop After Kraken’s Delisting in Europe: What’s Next DeFi TVL up 10% in September to $133 billion Bitcoin price decline continues — How are pro BTC traders positioned? Bitcoin Bounce Above $62K Quickly Fades; Ether, XRP, ADA, LINK Lose as Torrid October Continues OpenAI hits $157 billion valuation after new funding round Bill Gates’ Words About Bitcoin in 2014 Emerged Again Congressman Khanna backs Bitcoin strategic reserve as Democrats seek a ‘crypto reset’ Experts Say Bitcoin Will Still Outperform Gold, Here's Why Elon Musk-Themed Telegram Game 'X Empire' Returns With More Rewards Before Airdrop ? BlackRock Reveals When Bitcoin Price Will Recover For Events Like Iran-Israel Incident – Here’s The Expected Date Fan Tokens Have Much Larger Market Than NFTs, Says Chiliz CEO as Blockchain Prepares New Memecoin 'Pepper' Solana (SOL) Price Nears Support: PumpFun Activity Hints at a Potential Surge Ethereum vs. TRON: ETH Still Leads in Stablecoin Market Share Trust Wallet Becomes First Self-Custody Wallet To Introduce Decentralized ‘Launchpool’ Feature Toncoin (TON) Struggles to Stay Afloat as $4 Target Looms SEC Enforcement Director Gurbir Grewal Is Leaving the Agency FED Senior Fellow Barkin Makes Important Statement on Interest Rates Price analysis 10/2: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB Bitcoin open interest surge past $35B raises ‘overheating’ concerns Digital Asset’s Canton Network tokenizes gold, Eurobonds, gilts People pay a huge price for their genetics, but DeSci has a solution Bitcoin demand stabilizes, but needs stronger growth for Q4 rally: CryptoQuant BTC whales not in sufficient profit to dump on market — Ki Young Ju VCs secretly cashed out rewards on ‘locked’ EIGEN tokens India disconnects 20M phone numbers in ‘cyberslave’ crackdown Ethereum Stops Above Key Support But Falls Bitcoin Fails to Surpass Key Resistance, Analysts Claim Bearish Outlook Holds Tron’s $566 million Q3 revenue surpasses Bitcoin, Ethereum and Solana Bitcoin traders see $54K BTC price or lower amid Middle East tensions Polygon-backed Humanity Protocol’s testnet launch attracts 25,000 sign-ups in first 24 hours UK city minister pushes blockchain gilts despite gov’t concerns Dogecoin (DOGE) Price Reversal Likely Ahead Amid Strong Whale Activity Solana's TVL increase and institutional engagement point to bullish October: analysts PayPal stablecoin PYUSD now purchasable on MoonPay in all supported countries (except Canada) EigenLayer responds to community concerns over investor staking transparency Impersonators use Slack ‘driver’ in attempt to swindle crypto educator Shiba Inu Corrects Upwards Above The $0.00001600 Breakout Level Stablecoins, DeFi boost Nigeria to second in global crypto adoption rankings – Chainalysis Avalanche Price Plummets 10%: What’s Driving the Sudden Drop? Hoskinson Wades into ADA vs. SOL Debate: Which Altcoin is Better? Marathon Digital mined 705 Bitcoin in September Ripple Mints Over 2 Million RLUSD in 24 Hours: XRP Price Movement in Focus Starknet (STRK) Eyes All-Time Low of $0.31 as Trading Activity Plummets POPCAT crosses Lido DAO in market cap, are memecoins ready to boom? Satoshi Is Chinese Intelligence Operation, Top Hedge Fund Manager Says FET’s 33% Rally Under Threat From These Key Holders Global liquidity is exploding: What this means for Bitcoin, inflation, and your crypto wallet Crypto Market Dips: Analysts Share Strategies For Upcoming Altcoin Season Philippines to impose 12% VAT on foreign digital services Balances Changed in Bitcoin! Analysts Said the Decline May Continue in BTC, Announced Their Expectations! RippleX Teases XRP Community Night This October What Will Be the Price If XRP ETF Is Approved in the US? Here Are Comparative Predictions! Ethereum News: Why Ethereum Price Drops? Moscow probes Cryptex, UAPS just days after US sanctions Famous Analyst Said "Everything Points to an Uptrend in Solana", Announced October Price Target! Bitcoin (BTC) Price Prediction for October 2 Anonymous trader turns $368 into $2 million in three days EigenLayer's Token Launch Draws Scrutiny Over Supply Concerns Ark Invest's Bitcoiner Cathie Wood Makes Stunning AI Prediction Shiba Inu (SHIB) Whales Wake up With 8.7 Trillion Surge Bitcoin Price Analysis: The Reason Behind BTC’s Crash to $60K Today Moo Deng Defies Market Trend, Surges 30% as Crypto Liquidations Exceed $500 Million 14.2 Trillion PEPE Open Interest Offsets 12% Price Fall XRP Rockets 178% in Bullish Trading Activity as Price Eyes Breakout Bitcoin price dumps as Ceffu sells again and fear returns Mantra is up 2,100% in 2024 as technicals point to more gains Dogecoin (DOGE) on Verge of Price Doubling, If This Bullish Crossover Plays Out FTX Token Set to Skyrocket 160% Ahead of Key Hearing Unioverse Collaborates with N-Fusion to Enhance Web3 Gaming Lamborghini, Animoca Brands unveil blockchain-based supercars for web3 game Apple, Google to use AI to maintain dominance — Cathie Wood’s ARK Invest 3 Altcoins to Consider Selling Now: PYTH, KAS, and STX Crypto at a Pivotal Moment U.S. Election Betting: Court Ends Pause on Kalshi's Congressional Contracts Christie's to Offer Blockchain-Based Ownership Certificates for Photography Collection Dogecoin Price Dips 18%, But On-Chain Data Signals Bullish Trend Solana Drops 9% But Looks to Leverage On-Chain Activity Surge for Rally to $186 Toncoin Price Faces Potential 25% Drop; Will TON Hit the $4 Mark? SUI, NEAR, LTC, DOT Prices Fall: Is This a Buying Opportunity? Franklin Templeton Adds Aptos Blockchain to Support Tokenized Money Market Fund Ripple’s SCB Enhances International Transfers with Thunes Partnership Is Bitcoin’s digital gold status an ‘utter failure’? Monero Dips 7% as Kraken Says It's Delisting XMR for European Customers The Reason Behind Shiba Inu (SHIB) Price Plummet Today: Analysis Sky Mavis to halt free transactions for Ronin wallets on October 9 JUST IN! Bitwise Files Official Application with SEC for First XRP ETF! Ava Protocol set to power Sony’s new blockchain, Soneium Short-Term Holders Send $3B in Bitcoin to Exchanges at a Loss as Mideast Tensions Rise Is Massive Gold Pump Reason for Bitcoin (BTC) Drop? Middle East Tension Puts Bitcoin (BTC) Bull Run to $80,000 on Hold Ripple After the Crash: What’s Next for the XRP Price? Deutsche Bank-backed Taurus and Chainlink team up to accelerate tokenized asset adoption Avalanche Returns To Its Range And Reaches $30 High Cardano’s Charles Hoskinson receives award in Switzerland for Crypto Valley $101 Billion Bitcoin (BTC) Mystery Stuns Crypto Community Cronos zkEVM Transaction Fees Reduced to 50% with Latest Upgrade Injective 3.0 Aims to Transform INJ Into a Leading Deflationary Asset Crypto traders lost over half a billion dollars in market crash Cardano Investors Eye $1 Billion Recovery Amidst 11% Price Dip AI predicts Bitcoin price for October 31, 2024 Top Trader Names Six Altcoins Leading the Crypto Pack, Says ‘Mega-Strong’ Coins Likely Seeing Cooldown for Now Wormhole token soars 20% in 24 hour trading after Upbit listing Shiba Inu: Here Are Addresses Holding 100B to 10T SHIB and Their Total Holdings Web3 gaming mainstream adoption will happen gradually, then suddenly | Opinion Middle East explodes, Bitcoin steady: is something broken? Starling Bank banned crypto but left financial system ‘open to criminals’ Arthur Hayes Reveals the Biggest Obstacle to Bitcoin and Altcoin Rally! Compares Ethereum and Solana: Who Will Win? Crypto Market Overview: What Happened in September? Grayscale’s High ETF Fee Keeps the Cash Flowing In Even as Investors Withdraw JUST IN! Binance Announced the New Altcoin It Will List, The Price Moved! 5 Reasons Why the New Bullish Cycle of the Crypto Market May Begin with a Memecoin Surge Fluctuations of the EigenLayer token (EIGEN): everything you need to know '50 Bitcoin, 440 LTC, 6 Million DOGE': I Sold It All in One Clip, Reveals Dogecoin Creator Here's Ripple Price If XRP ETF Matches Bitcoin's 47B Inflow Edward Snowden Issues Unexpected Solana Statement XRP ETF Filings Are Like a “Cheap Call Option” on Trump’s Victory, Says Bloomberg Analyst DEGEN surges 160% after Coinbase adds token to listing roadmap Telegram has been disclosing user IPs since 2018, Durov says Will October Bring a Rise in Bitcoin (BTC) and Altcoins? Two Different Views from Peter Brandt and Willy Woo! Hamster Kombat (HMSTR) Sinks 50% Post-Airdrop, Bears Signal Further Trouble How North Korea Infiltrated the Crypto Industry Bitcoin is Trading -15.64% Below Our Price Prediction for Oct 06, 2024 Cardano’s on-chain metrics suggest a risk of a 30% price decline Altcoins plummet as geopolitical instability and long liquidations shake the market Sanctioned BitRiver sees Russia poised to surpass US in Bitcoin mining by 2027 with Kremlin’s support Mehmet Şimşek Gave the Good News! "No Tax on Cryptocurrencies!" Bitcoin and Ethereum Address Activity Declines: BTC Drops from 1.17M to 855K, ETH from 382K to 312K Unlocking the True Power of Crypto by Simplifying Transactions for Newcomers Crypto Educator Predicts XRP to Skyrocket 14,700% if BTC Reaches $400K, Here’s the New Price Target German Real-World Asset Tokenization (RWA) Platform Finest Launches Tokenized Gold on Cardano Bitcoin Plummets to $60K but These Altcoins Crashed Harder (Market Watch) Thousands of Indians trapped in Southeast Asia’s crypto fraud rings Bitcoin just lost its last chance for a massive breakout Digital Asset Investment Firm Canary Funds Launches Canary HBAR Trust In The US SUI Price Reaches 6-Month High Following 151% Rally in September Fidelity Ethereum ETF records largest daily outflows since launch 2,450,000 RLUSD in 24 Hours, What Is Ripple Up To? From Uptober to 'Rektober': $500,000,000 in Crypto Market Liquidations Here Are 14 Major Achievements in XRP and Ripple Ecosystem This September SHIB Lead Kusama Endorses Key Upcoming Shiba Inu Event, SHIB Holders Excited Dogecoin’s 14% Decline Could be Reversed by Highest Whale Inflows in a Month Are Ethereum Whales Driving the Recent 6% Drop in ETH? Pantera Capital to grant co-investment rights to $25m LPs in Fund V Crypto news and prices: Hedera (HBAR), Sei (SEI) and Celo (CELO) Cardano Onboards Gold as It Welcomes First Ever $150,000 in Tokenized Gold Crypto market in difficulty: analysis of ATOM, DELTA and IOTA Bitcoin Exchange Binance Continues to Delist! 4 Altcoin Trading Pairs Delisted from Spot Trading! Shiba Inu Community Burns 2,378,422,108 SHIB in September as Monthly Burn Rate Spikes 249% Tether CEO Paolo Ardoino Explained Why Tether (USDT) Is Important in Countries Like Türkiye! Here Are the Details XRP in Red Despite Bitwise's ETF Filing Tokenization Allows More Efficient Collateral Transfers, Digital Asset, Euroclear and World Gold Council Found in Pilot Project BitMEX Founder Arthur Hayes Finds Ethereum Unlikely To Be Assailed by Challengers, Says ETH Not Standing Still Bitcoin Price Alert: Iran Attacks Israel, Massive Crypto Sell-Off Prominent Trader Brandt Names Pivotal Level That Bitcoin Bulls Have to Reclaim Bitcoin Plunge Causes $450M in Bullish Crypto Bets Liquidated LUNC, USTC Price Jump 10% As Binance Burns 1.14 Billion Terra Luna Classic Dogecoin (DOGE) Falls to Support: Can It Avoid a Breakdown? Market Analyst Says XRP Will Reach $589 No Matter How Much You Deny It Central Bank of Ireland wants to democratize finance How Is The Fourth Quarter Historically For Ethereum And Altcoins? Analysts Explained Analyst Calls BTC Dip Perfectly, Expects Bitcoin Rally to Commence Soon as Bullish Indicators Support Pump XRP Genuine Wake-Up Line To Push XRP To $7.5: Top Analyst Cardano Founder Celebrates Launch of Midnight Testnet: “It’s Worth Giving Some Love” Bittensor (TAO) and These 2 Coins Are Safe Bets Amid the Geo-Political Tension South Korean Cryptocurrency Exchange Upbit Announced That It Will List This Altcoin! Crypto Expert Predicts 61% Cardano Crash, Urges Massive ADA Short Bitwage CEO: Stablecoins Have Been a Lifesaver for Argentines October Magic: Will Cardano and Toncoin Repeat Past Performance? Japan’s Banking Titans Unleash Revolutionary Stablecoin Test: A Glimpse into the Future of Finance US Bitcoin ETFs face setbacks as Bitcoin retreats amid rising Middle East conflicts 80% of crypto startups from 2022 are still kicking despite market chaos Consensys: Half of All US Voters Support Pro-Crypto Policies US Department of Justice Conducts Major Cryptocurrency Operation Metaplanet's Bitcoin strategy lifts stock by 443%, targets 1,000 BTC Bitcoin Regains $61K in Worst Start to Most Bullish Month as Israel-Iran Tensions Rage On Is Bitcoin On The Brink Of A Reversal? Here’s What This Key Indicator Suggests Japan’s Banking Titans Unleash Revolutionary Stablecoin Test: A Glimpse into the Future of Finance Bitcoin Sinks to $61,000 Amidst War Tensions, Analyst Calls This an Opportunity for Bullish Accumulation XRP Price Fights to Regain Momentum: Will It Break Through?? Bitcoin Dumps $4,000 as Fear Grips Markets on Middle East Conflict Bank of Russia Claims Digital Ruble Issuance Won't Cause Inflation Digital asset investment firm Canary Funds launches Canary HBAR Trust in the U.S Hacker pleads guilty to stealing $37M in crypto via ‘cyber intrusion’Hacker pleads guilty to stealing $37M in crypto via ‘cyber intrusion’ Bitcoin Stares Down Several Tailwinds as Global Stimulus, US Election, and FTX Payouts Loom Japan Considers Changes to Crypto Rules as FSA Launches Review: Report Shiba Inu Leads Whale Frenzy: Large SHIB Transfers See Massive 360% Spike Will Binance’s New Regulatory Win Help BNB Price Avoid $500 Breakdown? Has the crypto market bottomed? Look out for these 5 keywords Bitcoin tanks, gold rebounds as Israel vows Iran ‘will pay’ for attack Crypto group COPA launches bid to stop blockchain ‘patent trolls’ Bitcoin Price Falls To $60K: Is A Rebound Possible? AI-focused Masaaki Taira appointed Japan’s digital minister, crypto holders cross fingers on tax issue Ethereum could decline to $2,207 if Middle East war tension escalates Proton says Swan Bitcoin lawsuit is ‘fatally flawed,' seeks dismissal World Mobile Token Integrates Chainlink CCIP Across Multiple Blockchains Did Binance get hacked? Exchange denies breach Ethereum Price Extends Losses: Is The Downtrend Set to Continue? Australia’s ‘Operation Kraken’ Seizes $6.4 Million in Crypto Linked to Global Crime Ripple Issues an Important Warning for its Upcoming Stablecoin: Details Dogecoin ($DOGE) Price Could Soar 1,300% to $1.6, Crypto Analyst Predicts Will ADA Price Reach $0.5 As Cardano Midnight Testnet Goes Live? Near zero chance of XRP ETF approval if SEC appeals Ripple case on Oct. 7 : Galaxy Digital Head of Research Welcome to the securities family: Court sides with SEC in mining device case September’s Top Performers: EGP, ANS, and XPOWER Dominate with High ROI The Spectre of Sam Bankman-Fried Overshadowed Caroline Ellison's Sentencing Solana Price: Top Expert Predict SOL Likely to Hit $220 Bitcoin Held By Short-Term Holders Plunges by $83 Billion in ‘Sign of Growing Confidence’ 5 Revolutionary Metaverse Types Reshaping Our Digital Future Bitcoin (BTC) Bulls Aren't Ready to Give Up, Shiba Inu's (SHIB) Dreams of $0.00002 Are Real, Ethereum (ETH) at Pivotal Threshold Crypto faces 'hangover' from venture capital 'glut' during previous bull market: Multicoin's Tushar Jain Crypto trader Ansem says there was a ‘misalignment of incentives’ in certain celebrity-backed memecoins Fraud platform integrates JPMorgan's blockchain solution to verify vendor banking data Top Trader Says ‘Monster Trend’ Underway for Ethereum-Based Memecoin, Updates Forecast on WIF and POPCAT Major Catalyst That Could Drive Bitcoin To New ATH In Q4 Emerges Aptos price prediction for 2024 – 2030: Will APT token hold bullish hopes?
