Is Gold’s Crash the Catalyst Bitcoin Bulls Have Been Waiting For?
The post Is Gold’s Crash the Catalyst Bitcoin Bulls Have Been Waiting For? appeared on BitcoinEthereumNews.com.
After reaching record highs, gold is undergoing a notable correction. On October 21, the precious metal experienced its steepest one-day drop in over 12 years. Meanwhile, Bitcoin (BTC) has rallied, fueling speculation among analysts that capital may be rotating out of gold and into the leading cryptocurrency. Sponsored Is Gold’s Rally Over? BeInCrypto previously reported that gold had continued to trend higher this month. Even as the crypto market reeled from tariff-driven volatility following President Trump’s announcement, the traditional safe-haven asset attracted strong demand. In fact, long queues were seen forming outside bullion dealers as investors rushed to purchase physical gold. Amid this surge, gold hit a new all-time high of $4,381 per ounce on Monday. However, during gold’s record run, analysts warned of a potential market top and an imminent correction. Their warnings proved timely. On Tuesday, gold prices plunged more than 6%, marking their sharpest one-day decline since 2013. At press time, gold was trading at $4,129 per ounce, down roughly 5% over the past 24 hours. Gold Price Performance. Source: TradingView Sponsored Professional trader Peter Brandt drew attention to the sheer scale of gold’s latest selloff, noting that the metal’s market capitalization plunged by an estimated $2.1 trillion in a single day. “In terms of market cap, this decline in Gold today is equal to 55% of the value of every cryptocurrency in existence. @PeterSchiff ‘s pet rock lost $2.1 trillion in value today. That is 2,102 billion $ worth,” Brandt wrote. What Does Gold’s Historic Decline Mean For Bitcoin? Meanwhile, as gold struggled, Bitcoin gained momentum. BeInCrypto Markets data showed that BTC rose 0.51% over the past 24 hours. Bitcoin (BTC) Price Performance. Source: BeInCrypto Markets Sponsored At press time, it traded at $108,491. According to analyst Ash Crypto, these diverging movements signaled that the rotation…
Filed under: News - @ October 22, 2025 6:22 am