Bitcoin Falters Below $80K as US Yields Ease and Gold Cools
Bitcoin's attempt to hold onto $80,000 as support has weakened, causing its price to drop below that level for the first time since reaching it on Tuesday.
The cryptocurrency slipped from a high of $81,265 to lows around $78,111 on Bitstamp, according to TradingView data. This decline comes as US equities steadied and macro catalysts regained focus, with traders seemingly unable to sustain the level.
Gold also pulled back after recent strength, falling towards $4,605 per ounce, a nearly 2% drop on the day.
The divergent moves between risk assets, including Bitcoin and gold, reflect a broader shift in market positioning. In contrast to last week's rally where US stocks climbed alongside crypto and gold moving against them, this week's trend has seen traditional assets regaining momentum.