Bitcoin and gold had quite the rollercoaster ride on February 11! 🎢
First, Bitcoin took a wild plunge, shedding $1,500 in a single hourly candle. Rumors of Binance selling off its crypto stash sparked panic, but the exchange quickly put out the fire by denying the allegations. Phew! 🚒
On the other hand, gold went on a buying spree, reaching record highs of $2,942 per ounce. It's like everyone's rushing to buy gold bars, causing inventories to surge by 15 million ounces in just two months! 🤑
Apparently, this gold rush is due to US liquidity injections and uncertainty over inflation trends. With deficit spending out of control, US treasury yields are being driven higher, making gold a more attractive hedge. 💸
But don't worry, Bitcoin fans! Some analysts think that Bitcoin will follow in gold's footsteps, just a few months behind. So, sit tight and keep an eye on that $90,000 entry zone! 💻📈
In the end, it's a thrilling time for both crypto and gold enthusiasts! 🌟
