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Gold shines as stocks and cryptos slide, traders bet on 4 rate cuts in 2024
Volatility extended for another day on Thursday, wiping the crypto gains recorded on Wednesday from the books and treating stock traders to whipsaws and afternoon downturns while gold shined bright. “Yesterday’s sharp 4% rally to $58,500 proved short-lived as Bitcoin (BTC) quickly retraced to $56,400,” noted analysts at Secure Digital Markets. “Despite persistent selling pressure, the $56,000 level held firm as support.” chart “Realized volatility appears to be decreasing, and the spread between 30-day options at-the-money implied volatility is narrowing,” they added. “Historically, this suggests a ... (full story)
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- Posted: Sep 5, 2024 10:46pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 250
