Bitcoin\u2019s rally attempt fails as it retreats to below 112,000 dollars.
\nGold continues its quiet but powerful climb, nearing its all-time high.
\nIn August, gold is up nearly 4 percent while Bitcoin has fallen over 5 percent.<\/p>\n
A hopeful rally in the cryptocurrency market was decisively crushed on Thursday, as steady selling pressure throughout the US trading session sent prices into a familiar retreat.<\/p>\n
The failed bounce underscores a growing sense of fatigue in the digital asset space and throws a stark and revealing light on the silent, powerful ascent of its analog rival: gold.<\/p>\n
After a brief flirtation with the 113,000 dollar level, Bitcoin (BTC) was beaten back, sinking to 111,800 late in the session for a loss of 0.7 percent over the past 24 hours.<\/p>\n
The selling was even more pronounced in other major tokens, with Ether (ETH) and XRP shedding a more sizable 2.1 percent and 1.4 percent, respectively.<\/p>\n
The one notable bright spot in a sea of red was Solana\u2019s SOL, which managed to buck the trend with a respectable 3.1 percent gain.<\/p>\n
While the crypto market grapples with its own inertia, a different story is unfolding in the world of precious metals.<\/p>\n
Quietly, but with unshakable conviction, gold has been on the rise. The yellow metal added another 0.8 percent on Thursday, climbing to 3,477 dollars per ounce.<\/p>\n
This puts the safe-haven asset just a few dollars shy of the record high of 3,534 dollars it touched earlier this month.<\/p>\n
The performance in August paints an even more dramatic picture of this great divergence: while Bitcoin has slid 5.2 percent, gold has rallied by nearly 4 percent.<\/p>\n
This decoupling is the great mystery currently haunting the market.<\/p>\n
The very same macroeconomic tailwinds that are propelling gold higher\u2014namely, the prospect of lower interest rates and a weaker US dollar\u2014are conspicuously failing to ignite any significant bid for \u201cdigital gold.\u201d<\/p>\n
The fundamental case for Bitcoin as an inflation hedge and a store of value is being put to a severe test, and for now, it is failing.<\/p>\n
The stage is now set for a potentially volatile final four months of the year.<\/p>\n
The resumption of Federal Reserve rate cuts appears to be firmly on the table for September, a move that could be amplified by President Trump\u2019s appointment of one or possibly two new, likely dovish, members to the Fed\u2019s board.<\/p>\n
As these powerful forces converge, the market is watching to see if Bitcoin can finally catch the golden tailwind or if its strange and troubling disconnect is a sign of a deeper malaise.<\/p>\n
The post Bitcoin remains under pressure as gold targets a new all-time high<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s rally attempt fails as it retreats to below 112,000 dollars. Gold continues its quiet but powerful climb, nearing its all-time high. In August, gold is up nearly 4 percent while Bitcoin has fallen over 5 percent. A hopeful rally in the cryptocurrency market was decisively crushed on Thursday, as steady selling pressure throughout the […]<\/p>\n","protected":false},"author":0,"featured_media":4704,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-4703","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/4703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=4703"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/4703\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/4704"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=4703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=4703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=4703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}