{"id":13955,"date":"2025-10-21T19:34:42","date_gmt":"2025-10-21T19:34:42","guid":{"rendered":"https:\/\/bitunikey.com\/news\/why-is-crypto-up-today-gold-crash-fuels-bitcoins-gains\/"},"modified":"2025-10-21T19:34:47","modified_gmt":"2025-10-21T19:34:47","slug":"why-is-crypto-up-today-gold-crash-fuels-bitcoins-gains","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/why-is-crypto-up-today-gold-crash-fuels-bitcoins-gains\/","title":{"rendered":"Why is crypto up today? Gold crash fuels Bitcoin\u2019s gains"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Gold saw its worst day in years, falling more than 5%, which fueled Bitcoin\u2019s rally and pushed the crypto market higher.<\/p>\n<div id=\"cn-block-summary-block_0c729f206454746319efb144edd2ec39\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>The crypto market is rallying as Bitcoin almost reaches $114,000 <\/li>\n<li>Gold plunged over 5% intraday, likely due to overextension<\/li>\n<li>Crypto market sentiment may be shifting to neutral territory<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Gold is crashing, and Bitcoin is rallying, as markets see a dramatic reversal of typical safe-haven behavior. Bitcoin rose sharply on Tuesday, October 21, climbing to a daily high of $113,996.35, as gold was on track for its steepest daily decline in five years.<\/p>\n<p>The rally comes as crypto market sentiment hovers near its lowest levels in months, with Bitcoin (BTC) struggling to break out of the $110,000 zone. The rally also coincided with a slight improvement in market sentiment. <\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Crypto fear and greed index | Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/charts\/fear-and-greed-index\/\" target=\"_blank\" rel=\"nofollow\">CMC<\/a><\/figcaption><\/figure>\n<p>At the same time, gold has retreated from Monday\u2019s record high of $4,381 per ounce, falling 5.5% to a weekly low of $4,115.26. The correction, which is on track to be its worst day since 2020, is likely due to traders\u2019 overextended long positions.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Why is crypto up today? <\/h2>\n<p>According to several analysts, the most likely reason for the gold crash was extreme overbought conditions in the markets. In fact, gold prices were up 25% over the last two months alone, due to extreme shifts in macroeconomic conditions. Namely, new tariffs against China hurt both crypto and stocks, while gold rallied.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe mere fact that we have rallied $1,000 in six weeks\u2009.\u2009.\u2009.\u2009it is indicative that prices are overly elevated, we are in the stratosphere,\u201d <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/5ad25988-da6f-4d2c-98a7-76ba1dd31736\" target=\"_blank\" rel=\"nofollow\">said<\/a> Nicky Shiels, analyst at MKS Pamp.<\/p>\n<\/blockquote>\n<p>This increase in the price of gold also made Bitcoin relatively less attractive as a safe-haven asset. With the latest correction in gold, investors in alternative assets may come back to Bitcoin, which could boost the crypto markets overall.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gold saw its worst day in years, falling more than 5%, which fueled Bitcoin\u2019s rally and pushed the crypto market higher. Summary The crypto market is rallying as Bitcoin almost&hellip;<\/p>\n","protected":false},"author":1,"featured_media":121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13955"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13955\/revisions"}],"predecessor-version":[{"id":13956,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13955\/revisions\/13956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/121"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}