Bitcoin, the 'digital gold', moves sideways amid gold price hits record high

Gold, 'Safe Asset', Hits All-Time High Amid Global Trade Tensions BTC and Altcoins Maintain Sideways Trend as Gold Surges Solo Novogratz: "BTC to End Sideways Movement and Start Rising"

On the 17th, gold soared and cryptocurrencies, including Bitcoin (BTC), remained sideways as fear eroded the asset market due to Trump's tariff policies. As the United States and China respond with high mutual tariffs, causing global recession fears to rise, the 'safe asset' gold recorded an all-time high on the 17th. The gold spot price on the 17th was $3,338.43 per ounce. As funds flowed into gold, the primary safe asset, most assets in the market declined, and cryptocurrencies also experienced a weak trend. Bitcoin maintained the $84,000 range, and altcoins maintained similar price levels as the 16th. ◇Bitcoin = As of 4 PM on the 17th, the Bitcoin price on Upbit was 122.4 million won. Bitcoin's dominance was 63.90%. According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 49.42% and 50.58%, respectively. Despite Bitcoin's sideways movement, expectations exist that Bitcoin will soon show a bull market rally. Mike Novogratz, CEO of Galaxy Digital, claimed, "Although Bitcoin has been adjusted like big tech companies, it will ride a strong upward trend in the future." He predicted that as cryptocurrencies are showing decoupling from big tech, new fund inflows can be expected. ◇Rising Coins = As of 4 PM on the 17th, the cryptocurrency with the largest increase on Upbit was ARK, rising by about 14%. ARK is a platform providing programming to users. It offers users the ability to easily deploy side chains customized to their business models. All side chains are connected to the ARK mainnet, enabling efficient operation. The payment method used within the ARK platform is the ARK token. ◇Fear and Greed Index = The digital asset Fear-Greed index provided by Alternative is maintaining the 'Fear' stage at 30 points. The fear stage (20-39) is a period when cryptocurrency price volatility and trading volume increase, indicating a price decline. There is a high possibility of short-term bottom formation, so caution is advised when buying. The Relative Strength Index (RSI) for cryptocurrencies provided by Sigbit was recorded at 55.1, in a 'neutral' state. RSI determines the relative strength between upward and downward pressure of a specific asset price and is an indicator showing the overbought and oversold scales of a specific asset. Reporter Seung-won Kwon ksw@blockstreet.co.kr