The crypto market rally has stalled as U.S. Treasury Secretary Scott Bessent commented on the prognosis for a trade deal with China, impacting Bitcoin’s movement. Bitcoin is currently priced at $93,600 with institutional interest rising via significant ETF inflows. Gold’s recent decline may signal potential gains for Bitcoin, viewed as a hedge against economic uncertainty.
The recent crypto market rally has paused following comments from U.S. Treasury Secretary Scott Bessent, who indicated that negotiating a trade deal with China could take years. Currently, Bitcoin (BTC) has risen by 2.6% in the last 24 hours to reach $93,600, marking a 12.2% increase over the past week. Meanwhile, major altcoins such as Sui (SUI) and Cardano (ADA) have exhibited more substantial gains than BTC, with SUI increasing by 24%.
Institutional interest in Bitcoin remains robust, evidenced by nearly $1.3 billion in inflows into U.S.-listed spot ETFs in just the past two days. This trend signals a growing institutional demand rather than mere retail speculation, particularly as traders position for potential shifts in the monetary landscape. Despite recent volatility in the crypto market, BTC faces resistance near the $95,000 threshold, suggesting a possible correction may occur.
In contrast, gold has detected a significant decline of 2.5% today, trading at approximately $3,290 per ounce following a dramatic rise previously. This stall in gold prices may signal a favourable shift for Bitcoin, with historical patterns indicating a correlation between Bitcoin’s performance and gold’s price movements. Analysts posit that BTC may be gaining stature as a hedge against inflation and uncertainty, referencing it as “digital gold.”
Overall, experts suggest that advancements in the geopolitical climate, specifically the outcomes of upcoming meetings between U.S. President Trump and Chinese leaders, could further influence market volatility. In summary, as the crypto landscape evolves, Bitcoin’s trajectory appears increasingly aligned with traditional safe-haven assets like gold.
