$BTC Over the past 24 hours, Bitcoin has grown by almost 3% and is trading at around $87,500. Altcoins from the top 10 in terms of capitalization generally supported the price movement of digital gold. The exceptions were Solana (+0.2%) and TRON (+0.6%).

At the same time, the capitalization of the crypto market increased by 0.5% over the period to $2.85 trillion. Bitcoin's dominance was 61%.

The growth of the first cryptocurrency coincided with gold reaching a new high of $3,389 per troy ounce. Futures on major US stock indexes continued to fall.

This happened against the backdrop of the escalation of the US-China trade war, The Kobeissi Letter noted. The Ministry of Commerce of the People's Republic of China warned of retaliatory measures against countries that cooperate with the United States against Beijing's interests.

“China firmly opposes any party that reaches an agreement at the expense of its interests. If this happens, China will not accept it and will resolutely respond with countermeasures,” the ministry said.

The publication believes that the rise in gold and bitcoin signals a weakening dollar and increasing uncertainty.

“Bitcoin’s breakout above $87,000 is due to increased global liquidity