ANALYSIS: Bitcoin Price May Break All-Time Highs as Gold Rally Pauses
On Oct. 24, Coindesk reported that gold's recent strong performance could influence bitcoin's price action. 2020 historical data shows that bitcoin had risen sharply when gold's rally slowed.
Recently, gold ETF products have seen the highest level of inflows since October 2022, while inflows into the U.S. bitcoin ETF have also reached $2 billion in the past seven trading days. Analysts believe that the pause in gold's rally could pave the way for new highs for BTC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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