Tuesday, 02 January 2024 12:17 GMT

Gold Advances As Bitcoin Pauses: Safe-Haven Sprint, Digital-Gold Marathon


(MENAFN- The Rio Times) Gold keeps sprinting while Bitcoin catches its breath. Tokenized gold (XAUT/USDT) pushed to about 4,232 in a technically overbought market that continues to advance at speed-an unmistakable signal that investors are hedging global risk first and asking crypto questions later.

Bitcoin, long billed as“digital gold,” spent the night treading water rather than crashing. By early morning it hovered near 111,300, down about 1.1% on the day.

Ether slipped to roughly 4,017 (-2.4%), Solana to 193.9 (-5.2%), and XRP to 2.415 (-3.5%). Trading stayed concentrated in the majors, with about $1.14 billion in BTC turnover on your panel and $1.24 billion in ETH .

The simple story: a rebound attempt faded into the New York close and bled into Asia and Europe, leaving crypto softer but orderly.

One offsetting force came from exchange-traded funds: U.S. spot Bitcoin products swung to roughly $100 million of net inflows Tuesday, while spot Ether funds took in about $236 million-supportive, but not enough to flip momentum.

The story behind the story: gold and Bitcoin hedge different fears on different clocks. Gold is the world hedge-wars, growth scares, policy mistakes-and central-bank demand plus lower real yields give it a steady bid.



Bitcoin is the system hedge-debt, debasement, self-custody-but in the short run it trades like high-beta tech because so much flow sits in leveraged perps and options.

Last weekend's liquidation cascade left traders cautious; ETF dip-buyers are growing, yet not always large enough to overpower a fast derivatives unwind. Hence gold's sprint and Bitcoin's marathon.

Technicals explain the stalemate. On the daily chart, BTC clings to a months-long rising trendline, with support clustered around 106,900–107,400 and overhead supply near 114,400–114,900.

The four-hour view shows price below short-term averages, with muted momentum-classic consolidation. A sustained four-hour close above roughly 113,000–113,700 would tee up a retest of 115,000; a daily close below ~107,000 risks revisiting last weekend's lows.

Altcoins split along liquidity lines: thin names spiked (RECALL +1,342%, YB +470%, BLESS +452%), while larger tokens lagged (TAO -15%, LINK -5%, DOGE -3.5%, ADA -4%).

What matters next: whether BTC can reclaim the 113k–115k band, whether ETF inflows persist, and whether breadth returns beyond BTC and ETH-while gold keeps setting the macro tone.

MENAFN16102025007421016031ID1110204146



Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.