Bitcoin Rockets to $93K as Gold Crashes: What is Fueling the Crypto Surge?

Bitcoin rockets to an impressive $93,000, while gold plummeted from a peak of $3,344/ounce, signaling a seismic shift in safe-haven assets. As BTC solidifies its dominance, gold struggles to hold ground. What’s driving this divergence?

Bitcoin Rockets to $93K as Gold Crashes
Bitcoin Rockets to $93K as Gold Crashes

Why Bitcoin Rockets

  • Spot BTC ETF Boom: US Spot BTC ETFs recorded $381.9M in net inflows on April 22, the highest since early April. ARKB (21Shares) led with $116.1M, reflecting robust institutional appetite.
  • Pro-Crypto US Policies: President Donald Trump’s decision to lower tariffs on Chinese imports eased trade tensions, sparking a risk-on rally across crypto and stocks. Additionally, the appointment of Paul Atkins as SEC Chair, a known crypto supporter, replaces Gary Gensler’s restrictive regime, boosting market confidence.
  • Weak USD: Fears of a US recession (40-60% probability, per betting markets) weakened the dollar, pushing investors toward BTC as a modern haven.
  • Bullish Sentiment: A golden cross and a 44.2B USD 24-hour trading volume (CoinMarketCap), signaling strong momentum. BTC’s 22% gain since April 9 underscores its resilience.
Bitcoin Rockets over $93K
Bitcoin Rockets over $93K

Gold Crashes

Gold hit $3,500/ounce on April 22 but faced heavy profit-taking, per Kitco data. Capital flowed from gold to crypto and equities as risk appetite surged, amplified by reduced US-China trade tensions.

Market Impact

The crypto rally lifted altcoins like Ethereum (+12%), Solana (+4%), and Dogecoin (+7%). Meanwhile, gold’s correction may persist if risk-on sentiment holds.

Bitcoin’s ascent reflects its growing role as a safe haven. Investors should monitor ETF inflows, US policy shifts, and macroeconomic trends for $BTC’s next move. Is gold’s reign fading?

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