Prominent economist Robin Brooks has stated that gold has lost its status as a safe-haven asset. The lustrous metal is now trading as a pro-cyclical, high-beta asset that mirrors the behavior of risk markets like Bitcoin and the S&P 500. According to Brooks, the traditional days of gold remaining uncorrelated with swings in risk appetite
Bitcoin entered its seventh day of decline as major cryptocurrencies extended steep weekly losses as the artificial-intelligence trade that drove global risk assets since 2024 waned. At the time of writing, Bitcoin was down 0.47% in the last 24 hours to $62,462 and down 15% weekly. Bitcoin fell to a fresh low of $61,073, leading
Longtime Bitcoin critic and pro-gold advocate Peter Schiff has continued his regular criticism against the chairman of the world’s largest Bitcoin treasury company, Michael Saylor. This time, Peter Schiff has blamed Michael Saylor for Bitcoin’s price dip, noting that the Bitcoin advocate is solely responsible for Bitcoin’s rise and fall. Schiff has made his post
Bitcoin fell after the May US labor report gave markets a reason to delay the next Federal Reserve easing trade, turning a stronger jobs number into a tighter-liquidity problem for crypto. The May Employment Situation report said nonfarm payroll employment rose by 172,000 in May, while the unemployment rate held at 4.3%. TradingEconomics release-screen data
Financial giant BNP Paribas has predicted three Fed rate hikes as the U.S. labor market holds strong while inflation continues to rise due to the U.S.-Iran war. Notably, crypto market participants are also pricing in a hike, with the Polymarket odds rising to a new high following the latest jobs data.
Strategy co-founder and executive chairman Michael Saylor said Bitcoin needs “disciplined expansion” through banks, companies, securities, credit and capital markets, laying out a path for the asset as spot exchange-traded fund (ETF) outflows and a broader market sell-off test institutional demand. On Friday, Saylor published an essay, saying Bitcoin’s base layer should be treated as
Hardcore bitcoin purists haven’t lost faith in the world’s largest digital currency, despite it losing nearly 17% of its value, marking the worst weekly performance since July 2024 and wiping out about $200 billion in market cap in the last seven days. The prominent bitcoin advocates or maximalists (short for maxis) — a group that
Bitcoin’s recent drop below $60,000 has shaken the crypto market. But according to Glassnode co-founder Rafael Schultze-Kraft, the latest drop may be bringing Bitcoin into a rare price zone that has historically marked major market bottoms. The big question: Is Bitcoin close to its bottom level, or is there still more pain ahead? Bitcoin Enters