Commodities
Bitcoin Reaches New High as Dollar Weakens and Gold Surges
Bitcoin (BTC) surged to a new high of $81,165 on Tuesday before easing to $80,792, up 4.5% in 24 hours.
The price increase is driven by a weakening US dollar and falling bond yields, which are pulling money into both gold and Bitcoin at the same time.
Gold also pushed to its highest price in more than three months, gaining 0.6% to $4,677.19 per ounce on Tuesday.
The last comparable monthly surge in gold came in September 1999, when a group of European central banks agreed to cap their gold sales, ending a prolonged slide in prices.