Bitcoin and gold correlation strengthens<\/h2>\n
\u201cThe narrative in both gold and Bitcoin is aligning for the first time in years,\u201d\u00a0commented\u00a0the Kobeissi Letter on X, observing gold\u2019s recent all-time high and Bitcoin\u2019s breakout.<\/p>\n
\u201cGold has hit its 55th all-time high in 12 months and Bitcoin is officially joining the run,\u201d it stated before adding:\u00a0<\/p>\n
\u201cGold and Bitcoin are telling us that a weaker US Dollar is more uncertainty is on the way.\u201d<\/p><\/blockquote>\n
The US dollar Index (DXY), which is a measure of the greenback against a basket of six major currencies, has declined 10% since the beginning of this year as global trade tensions escalate.\u00a0<\/p>\n
Related:\u00a0<\/strong><\/em>Bitcoin gets $90K short-term target amid warning support ‘isn’t safe’<\/strong><\/em><\/p>\n
The move was also observed by \u201cGeiger Capital,\u201d which also observed the decline in tech futures and the USD, adding that Bitcoin was \u201cdecoupling.\u201d<\/p>\n
\n– Tech futures down
– Dollar down
– Gold new ATH
– Bitcoin breaking out\/decoupling<\/p>\nRealize where we are.\u00a0pic.twitter.com\/XqZRlEHj39<\/p>\n
\u2014 Geiger Capital (@Geiger_Capital)\u00a0April 21, 2025<\/p><\/blockquote>\n
<\/p>\n
Some analysts had\u00a0predicted\u00a0a fall to $83,000 over the Easter weekend, citing exchange order books, but BTC appears to have defied them.\u00a0<\/p>\n
On April 19, analyst \u2018Rekt Capital\u2019\u00a0observed\u00a0that Bitcoin hasn\u2019t just broken the downtrend, it \u201csuccessfully retested it as support for the first time since downtrend formation.\u201d<\/p>\n
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