Bitcoin Prices Approach $69K As The Gold Market Spike Unsettles Investors

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Bitcoin’s price momentum is moving near $69,000 by the end of the week, failing to follow gold to new all-time highs. After the Wall Street opening on April 12, BTC ticked down $64,104 and fell approaching $69,000, leaving BTC price movement in the dust as gold outpaced BTC price action.

The Price Of Bitcoin Soars While Gold Reaches Record Highs

As the week came to a finish, data from TradingView and Cointelegraph Markets Pro indicated a lackluster performance on BTC/USD. Even if the Grayscale Bitcoin Trust (GBTC) saw fewer withdrawals, bid liquidity devoured Bitcoin below $70,000, suggesting that the cryptocurrency was not in a positive mood. In response, J. A. Maartunn, a contributor to the on-chain analytics site CryptoQuant, wrote on X that “Coinbase is responsible for this dip, with a BTC price of -$70 compared to Binance.” Maartunn referred to the fluctuating spot prices for BTC on significant exchanges. Thus, increases in risk assets were limited to gold, which on the day reached fresh all-time highs of $2,431 per ounce. US stocks sided with it; as of this writing, the S&P 500 and Nasdaq 100 indexes were both down about 1%.