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Bitcoin (BTC) consolidated above $77,000 after Friday’s Wall Street open as gold joined the crypto rally to hit 14-week highs.
Key points:
- Bitcoin and gold both hit their highest levels since May 15 against the US dollar.
- Analysis ties the strong performance firmly to US government debt policy.
- Polymarket odds of Bitcoin reaching $90,000 before 2027 reach 48%.
Analysis: Bitcoin and gold gains not “surprise”
Data from TradingView showed BTC/USD cooling after reaching its highest levels since May 15, still up nearly 6% on the day.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Gold echoed the move, reaching multi-month highs of $4,632 per ounce, up 2.2% on the day at the time of writing. On a monthly basis, BTC/USD and XAU/USD were up 13% and 16%, respectively.
BTC/USD vs. XAU/USD one-day chart. Source: Cointelegraph/TradingView
“What’s happening now in gold and crypto should not come as a surprise,” market commentary The…
