Bitcoin reaches a three-month high above $80K while gold drops $50 and oil prices rise amid geopolitical tensions.
Bitcoin climbed above $80K for the first time in three months, driven by renewed investor interest and broader market shifts. Gold, meanwhile, fell by $50 as traders rotated into riskier assets, while oil prices advanced amid ongoing geopolitical risks in the Middle East.
Gold had previously held near a three-month high, but the debasement trade lost momentum as the dollar weakened. Oil prices fluctuated, slipping over $2 after fresh US sanctions on Iran but remaining supported by supply concerns. Analysts at Citi raised their near-term gold target to $4,800, while JPMorgan flagged potential for $5K.
Asian equities opened lower, with South Korea and Japan both declining. The PBOC set the USD/CNY central rate at 6.7852, stronger than market estimates, as China continued to resist yuan appreciation.