Bitcoin Slides Below $121K Amid Gold and Silver Pullbacks
The attempted rally of Bitcoin (BTC) towards a record high reversed quickly during U.S. trading on Thursday. Initially trading just below $124,000, BTC dropped to under $121,000 within ninety minutes.
- Gold and silver markets saw pullbacks; silver hit $50 per ounce but quickly dropped to $48.55 due to profit-taking.
- Gold fell more than 1% from $4,100 to $4,035 per ounce.
- U.S. government shutdown may be impacting investor sentiment and market operations.
Altcoins Performance Against BTC
- Ether (ETH) declined by 3.5% to $4,300.
- BNB and DOGE fell by 3%-4%.
- Bitcoin's market dominance increased to over 59.4%, its highest in nearly eight weeks, indicating a shift back to the largest crypto asset.
- Over $600 million in leveraged trading positions were liquidated across all digital assets in the past 24 hours, as per CoinGlass data.