- Gold price has dropped to $5,007.70 per ounce.
- The US Dollar has reached 97.008 on the Index.
- Cryptocurrencies have moved within a specific range.
Gold and silver prices have come down. The US Dollar has gotten stronger against the basket. All this while cryptocurrencies have maintained a steady momentum despite volatility in the market. Interestingly, JPMorgan has earlier flagged that lower volatility could make bitcoin more attractive in the long-term.
Gold and US Dollar
Gold price has slipped by 0.7% to $5,007.70 per ounce, way closer to the $5k mark. The drop comes in the backdrop of the holiday season in China due to the Lunar New Year and an off day in the US markets due to President’s Day. Silver has also dropped by 0.4% to $77.09 per ounce.
Expert comments on Gold and Silver underline a brief pullback for the mid-term target. For instance, Zain Vawda from MarketPulse by OANDA has stated that they’d pull back the said target from $5,500 to $5,100 or $5,200, as reported by Reuters. Vawda further commented on Silver by saying that a sign of a strong economy often reduces its safe-haven appeal…
As for the US Dollar, it has gained 0.12% strength to reach 97.008 on the US Dollar Index. It previously closed at 96.884 and opened at 96.875 with a day’s range of 96.875 and 97.023.
With all this in the picture, the discussion around a rate cut by the US Federal Reserve has again taken the stage; however, it faces a question about services inflation coming out high in the last report.
Range for Cryptocurrencies
Major cryptocurrencies are moving within a specific range – BTC and ETH, to mention a few. BTC may have shed 2.42% of its value in the last 24 hours, but its movement has been between $67k and $72k over the weekend. The flagship token is now trading at $68,687.77, with a market cap of more than $1.37 trillion.
ETH’s range over the weekend was recorded between $2.1k and $1.8k. Ether is now trading at $1,976.11, significantly down by 3.98% in the last 24 hours. Overall, cryptocurrencies have collectively lost 2.47% in the market cap, and the FGI is now 12 points when the article is being drafted.
BTC and Gold, Earlier
JPMorgan earlier underlined that the lower volatility of bitcoin could make it more attractive than Gold in the long term. Even though Gold has outperformed BTC since October, it has also attracted volatility, as per the report. It adds that Bitcoin tokens could rise to almost $266,000 if they were to match the same volatility.
JPMorgan, in another report, expressed its bullish sentiments on cryptocurrencies when the production cost of BTC reportedly dropped to around $77,000.
Highlighted Crypto News Today:
Momentum Ignites: Can MUBARAK Extend Its 11% Breakout Into a Stronger Bullish Phase?
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETF Absorbs Over $1.1 Billion Yet Struggles to Rescue the Market? Powell and Oil Prices Team Up to Put Pressure On, Bitcoin Breaks Key Support
Despite Bitcoin ETF inflows of $1.16 billion, Bitcoin price pulled back to $71,000, declining over 4%. Analysts attribute the pullback to interest rate expectations and inflation pressures, while ETF inflows indicate that institutions view Bitcoin as a long-term asset. The weakness in U.S. equities has also impacted the crypto market.
GateNews2h ago
XRP Today’s News: Goldman Sachs Holds 154 Million XRP in ETF, Institutional Buying Fails to Drive Up the Price
Goldman Sachs has become the largest public holder of XRP spot ETF with a position of approximately $154 million, but this institutional signal has yet to be reflected in the coin price, with XRP still hovering around $1.29. Technical analysis shows that the $1.50 support level is critical, and a breakthrough could push prices higher.
MarketWhisper2h ago
Whale Buys Million in Ethereum! Low-Level Rebound Signals Emerge, Is ETH Price Inflection Point Coming?
Recently, an Ethereum whale returned to the market, purchasing 50,706 ETH with 111 million USDT, demonstrating confidence in the current price. Meanwhile, other large wallets have exhibited similar buying behavior, elevating market attention toward Ethereum. Although Ethereum's price continues to face pressure, institutional capital inflows and improved regulatory environment in the United States provide certain support to the market, potentially establishing mid-term support levels.
GateNews3h ago
Today's cryptocurrency fear and greed index dropped to 23, with the market shifting to an extremely fearful state.
Gate News: On March 19, according to Alternative.me data, today's cryptocurrency Fear and Greed Index dropped to 23, with the market transitioning from yesterday's "panic state" (index 26) to "extreme panic state."
GateNews4h ago
Why Did Bitcoin Decline Today? Powell Sends Hawkish Signals, Trump Considers Troop Increase in Middle East
Bitcoin fell to $70,767 on March 19 following hawkish signals from Federal Reserve Chairman Powell, who warned that rising oil prices could exacerbate inflation; meanwhile, U.S. military troop reinforcements in the Middle East heightened geopolitical risks. The $70,000 level is a critical support for Bitcoin, and a break below it could accelerate further downside.
MarketWhisper4h ago
