NewsBTC
Mar 15, 2025
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Bitcoin Struggles Below $84,000 as Gold Reaches Record High of $3,000

2 min

Bitcoin (BTC) is experiencing a decline, struggling to surpass $84,000 amid a broader crypto market pullback, while gold (XAU) has reached a record high of $3,000 per ounce on March 14.

Current Market Performance

  • BTC is down over 10% year-to-date, decreasing from approximately $94,000 to around $84,000.
  • Gold has increased nearly 13% in the same timeframe.
  • Market analysis indicates BTC may be breaking below a crucial support line that has remained intact for over a decade.

BTC to Gold Ratio

Prolonged trading below this support level could signal the end of the current crypto bull run. Capital flows into ETFs reflect diverging investor strategies:

  • US-based spot gold ETFs have attracted over $6 billion YTD.
  • Global spot gold ETFs have seen inflows exceeding $23 billion.
  • US-based spot BTC ETFs have experienced nearly $1.5 billion in net outflows YTD.

Market Analysis

Factors contributing to reduced interest in risk-on assets include new trade tariffs and a hawkish monetary policy from the US Federal Reserve. The total crypto market cap has dropped over $600 billion since January, now at approximately $2.8 trillion.

Peter Schiff argues that BTC has been in a bear market for three years, noting its purchasing power concerning gold has decreased by 24% since 2021.

Positive macroeconomic developments, such as cooling inflation and potential shifts in Fed policy, could benefit BTC. Currently, BTC trades at $84,902, reflecting a 3.8% increase in the past 24 hours.

Bitcoin Price