Bitcoin rose 2.7% on Tuesday, contrasting with gold's surge to a record $3,508 an ounce, highlighting different hedging strategies ahead of potential Fed rate cuts.

Gold's performance as a hedge against monetary debasement is complemented by Bitcoin's evolving role as an inflation hedge, according to market analysts.

Ethereum shows signs of fatigue with a drop in active addresses, while Solana emerges as a new focus in digital asset tokens, amid expectations for Friday's non-farm payrolls report.

Nick Ruck, director at LVRG Research, said the parallel rallies in gold and $BTC

bitcoin signal a broader shift in hedging behavior.

“Gold’s surge reflects a structural shift where it acts as a hedge against monetary debasement and equity volatility. Bitcoin’s evolving role as an inflation hedge suggests these assets are increasingly complementary rather than competitive,” Ruck told CoinDesk.

Meanwhile, Ethereum is showing signs of fatigue despite the broader narrative of institutional adoption. Daily volumes have slowed from July peaks, and on-chain metrics show a 28% drop in active addresses since late July.

Augustine Fan, head of insights at SignalPlus, said rotation within digital asset tokens (DATs) has left majors on the sidelines.

“The aggregate DAT premium softened back toward lows, with new inflows topping out. Rotation is taking place with Solana as the latest destination,” Fan said. He noted that Solana’s rebound in TVL has helped it decouple from the broader weakness.

All eyes are now on Friday’s non-farm payrolls. Economists expect around 45,000 new jobs, with private payrolls closer to 60,000 and the unemployment rate edging up to 4.3%.

A soft print could lock in a September rate cut, which in turn could revive risk appetite. But until that confirmation arrives, crypto markets are trading heavy, with downside protection in options at the highest levels in weeks.

For traders, the setup is clear. Gold’s strength is telling one story, $BTC bitcoin’s stumbles another.

The next few sessions will show which asset defines the market mood heading into September, a month that has historically been the weakest of the year for crypto.I want to share with you just two signals that point to the end of the current retrace. It’s been a long one, especially when you consider that the market is still bullish. I think you’ll agree with me—but of course, we’ll only know for sure in the comments section.

So, sit back, relax, and enjoy the breakdown.

Good evening traders, I hope you’re having a great day.

Let’s look at the retrace patterns. Between May and June, the retrace lasted six candles (counting the peak candle as part of it). This current retrace has already stretched to eight candles—about 33% longer than the last one.

Now compare this with a strong correction. Take January 2025, for example. That correction lasted for months, with just three strong red sessions driving prices down sharply. Or look back at March 2024, when a correction dragged on for five months. That’s the clear difference: a retrace is short and limited, while a correction drags on and cuts deeper.

The second clear signal comes from Bitcoin’s price action. Despite 1.5 months of bearish movement, Bitcoin is still holding above $100,000. No major support has been broken on the long-term chart. The next real support sits around $USDT $102,000—and that level hasn’t even been tested yet. If Bitcoin keeps moving the way it is now, it likely won’t even touch that zone.

Another key point is volume. Before a big crash, you almost always see a huge spike in selling volume. But right now, that’s missing from the chart. In fact, the largest volume bar since the last correction’s low was a bullish one, which shows that buyers still have control.

And as for altcoins… let’s just say the best is still ahead.