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$BTC Geopolitical Escalations: Renewed US-Iran tensions near the Strait of Hormuz and the broader Middle East conflict have ignited inflation fears and spiked oil prices, prompting investors to dump volatile risk assets like cryptocurrency in favor of safe-havens. Massive "Whale" Sell-Offs: The market took a major hit after a massive
billion block sale by an unknown entity on the BlackRock IBIT spot ETF, exacerbating fears that institutional demand is drying up. ETF Outflows: Investor confidence has been shaken by continuous net outflows across US spot Bitcoin ETFs, putting heavy downward pressure on spot prices. Leveraged Liquidations: The market was highly leveraged, leading to nearly
billion in long positions being liquidated within a 24-hour window as the price broke below major support levels, causing a cascading sell-off
$XAU Gold rallies after Axios reports tentative US-Iran ceasefire agreement.
A softer US Dollar and weaker GDP data support a bullion recovery.
Fed hike odds ease, but sticky inflation remains problematic.
Gold (XAU/USD) stages a comeback, surging over 1.20% on Thursday after rebounding from two-month lows near $4,366, as market sentiment improves on speculation of a peace deal between the US and Iran. At the time of writing, XAU/USD trades at $4,500.