As reported by Bijié Wǎng, major cryptocurrencies including Bitcoin, Ethereum, Solana, and XRP have declined this month, while gold and silver prices have risen sharply. Bitcoin dropped over 9%, Ethereum fell below $3,239.81, and Solana and Dogecoin declined between 11% and 20%. In contrast, gold and silver rose by 4% and 9%, respectively. Greg Magadini of Amberdata noted that most positive catalysts have been exhausted, and excessive long positions in Bitcoin may be unwinding. Additionally, concerns over systemic credit risks, particularly for Digital Asset Traders (DATs), are weighing on the crypto market. Meanwhile, rising government debt and fiscal instability in major economies are driving demand for gold as a safe-haven asset.
Bitcoin, XRP, Solana, and Ethereum Fall as Gold and Silver Surge
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