The price of bitcoin (BTC) is just 4.7% short of setting a new lifetime high, but its rally has stalled due to a continued rally in gold, traditional risk assets, and associated crypto tokens. President Trump's reiteration of tariffs has affected BTC's performance. Despite some predicting a sell-off before a big bullish wave, the onchain derivatives market suggests otherwise. The Derive.xyz market remains skeptical, with a 9.7% chance of BTC falling below $75k before March and a 4.4% chance of it reaching over $250k before September. Gold has risen to a record high of $2,799 per ounce, leading to increased demand for alternative investments like cryptocurrencies. Gold-backed tokens are also trading at a discount to the yellow metal. The rise in consumer inflation in Tokyo suggests possible rate hikes by the Bank of Japan, which could destabilize riskier assets.



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