Bitcoin Price Nears Record Highs as Gold Reaches $2,799 Per Ounce
Bitcoin (BTC) is currently priced at around $104,400, just 4.7% away from its all-time high. However, President Trump's tariff threats have impacted BTC's upward momentum, raising concerns about potential sell-offs before a significant rally.
Key points include:
- Derive.xyz indicates a 9.7% chance of BTC dropping below $75K by March and a 4.4% chance of exceeding $250K by September 26.
- Market activity on Deribit and CME remains bullish.
- Gold reached a record high of $2,799 per ounce, reflecting a 6.5% month-to-date increase, driven by fears of import tariffs.
- Gold-backed tokens like Tether gold (XAUT) also rose to new highs, though they still trade at discounts to gold.
- Tokyo's consumer inflation increased to 2.5% in January, supporting the likelihood of further Bank of Japan rate hikes and strengthening the yen.
The current economic environment may lead to volatility in riskier assets as seen in past trends.