BTC Slumps Amid Coinciding Declines in Gold and Silver

On September 28, Bitcoin (BTC) experienced a decline of 2.7% to an intraday low of $82,780.

This price drop coincided with a sharp three-hour selloff in traditional precious metals gold and silver.

Gold futures fell by 2.11% to $4,197.40 an ounce, while silver declined by 3.59% to $62.47.

The combined market-value loss for the two metals was estimated at more than $550 billion, with approximately $470 billion coming from gold and $101 billion from silver.