Bitcoin has faced renewed selling pressure this week, while gold quietly climbs toward new record levels. Despite an early rally attempt, BTC failed to hold gains, highlighting a divergence between traditional and digital safe-haven assets.
Key Takeaways
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Bitcoin failed to maintain gains above $113K, closing near $111.8K.
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Ethereum and XRP fell over 1–2%, while Solana rose 3.1%.
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Gold surged 0.8% to $3,477, nearing its record high.
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Macro trends helping gold have not boosted Bitcoin in the same way.
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Federal Reserve rate cuts and board appointments may influence markets in September.
Bitcoin Faces Afternoon Selling Pressure
On Thursday, Bitcoin briefly rose above $113,000, but the rally fizzled during U.S. trading hours, with BTC closing around $111,800, down roughly 0.7% in 24 hours. Other major cryptocurrencies struggled as well:
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Ethereum (ETH) fell 2.1%
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XRP slipped 1.4%
Interestingly, Solana (SOL) outperformed, climbing 3.1% over the same period. The pattern shows selective strength in certain altcoins, while Bitcoin remains under pressure.
Gold Continues Its Ascent
Meanwhile, gold quietly surged, rising 0.8% to $3,477 per ounce, just shy of its record high of $3,534 reached earlier this month. For August, gold’s rise of nearly 4% contrasts with Bitcoin’s 5.2% decline, highlighting a stronger appetite for traditional safe-haven assets.
Recent macro factors supporting gold include:
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Lower interest rates
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A weaker U.S. dollar
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Geopolitical uncertainty, such as earlier concerns over Swiss gold tariffs
These same factors, however, have not provided the same lift to Bitcoin, often referred to as “digital gold.”
What Lies Ahead
Looking forward, the Federal Reserve is expected to resume interest rate cuts in September, alongside potential new appointments to the Fed board. These developments could shape both traditional and crypto markets in the final months of the year.
Traders will be watching closely to see whether Bitcoin can regain momentum or continue trailing behind gold’s steady rise.
Also Read: Bitcoin Eyes $160K as South Korea Bitplanet Invests $40M in BTC
FAQs
1. Why is Bitcoin struggling while gold rises?
Gold benefits from lower interest rates, a weaker dollar, and geopolitical concerns, while Bitcoin hasn’t responded as strongly to these macro factors.
2. What is Bitcoin’s current price level?
Bitcoin is hovering around $111,800, down about 0.7% over the past 24 hours.
3. Which cryptocurrencies are showing strength?
Solana (SOL) rose 3.1%, outperforming other major cryptocurrencies like ETH and XRP.
4. How close is gold to its record high?
Gold is currently $3,477 per ounce, just below its record high of $3,534.
5. What upcoming events could affect BTC and gold?
September may bring Federal Reserve rate cuts and new Fed board appointments, potentially impacting both crypto and traditional markets.