Bitcoin rises 11% as gold suffers worst week since 1983
Bitcoin rose as gold fell. Since late‑February strikes on Iran, BTC gained while bullion slumped.
Bitcoin is up over 11% to about $70,650 after the US and Israel launched strikes in late February. Context on the conflict is here Washington Post overview.
Gold moved the other way. It’s down more than 12% from its peak.
Losses accelerated this week. Friday alone, gold fell 3.4% and closed near $4,480 per ounce TradingView data.
For March 16–20, gold dropped 10%. That’s the steepest weekly fall since 1983 TradingView data.
January also saw a sharp slide. Prices fell from around $5,500 and erased over $2T in value within weeks GoldPrice data.
The Fed added pressure. Powell flagged near‑term inflation from higher energy costs on Wednesday Quartz on Fed signals.
Traders pulled back 2025 cut bets. Markets now expect rates to stay unchanged this year Quartz on Fed signals.
High rates hurt gold. It pays no yield and lost appeal versus bonds Quartz on Fed signals.
War risks persist. Iran tensions disrupted oil flows through Hormuz and stoked energy fears NBC on Iran missiles.
Trump signaled a possible military pullback Friday. Troop deployments and airstrikes continue, keeping uncertainty high NBC on conflict updates.
- BTC outperformed during escalation Bitcoin price page
- Gold logged its worst week since 1983 TradingView data
- Fed’s steady‑rates stance weighed on gold Quartz on Fed signals
