Bitcoin faces a sharp decline as investors move towards traditional safe havens like gold, with heavy liquidations and market stress contributing to its 5% drop.
Bitcoin saw a 5% drop this week, falling to $105,105, as investors sought safety in gold amid economic uncertainties and heavy liquidations in crypto markets. Gold reached record highs, with spot prices surpassing $4,300 an ounce. Liquidations in crypto derivatives amounted to $1.23 billion in a single day. Analysts highlight Bitcoin’s high volatility compared to gold, which remains a more reliable safe haven in times of stress.