Bitcoin Battles for $10K as Gold Prints Over 7-Year High
Bitcoin's upward move looks to have stalled amid gold's rally to 7.5-year highs. But analysts think it's only a matter of time before bitcoin begins drawing stronger haven demand.
Bitcoin briefly crossed back above $9,000 earlier on Tuesday amid signs of an improved risk appetite in the traditional markets.
While bitcoin is losing altitude, small investors look to be gaining exposure to the top cryptocurrency, data suggests.
With historical data suggesting an intermittent correlation, bitcoin traders may do well to keep an eye on the ongoing slide in the yuan, analysts say.
Bitcoin is struggling to gather upside traction despite positive developments on the macro and technical fronts.
Bitcoin's price uptrend could gather pace following the confirmation of the golden crossover in the next few days.