Bitcoin Outshines Gold During Pullback, Eyes 100k Target

James Stanley, senior strategist at DailyFX, analyzed recent market movements and found that Bitcoin (BTC) has outperformed gold during the latest pullback. While gold retraced 50 percent of its rally, Bitcoin remains at a 23.6 percent retracement.

Stanley notes that surpassing the 82.5 level could open the way for a test of the 100k mark.

In his analysis, Stanley also highlighted the significance of increased supply in the market, particularly with 30-year U.S. Treasury yields reaching a 19-year high.