Ahead of the CPI release: Bitcoin and gold move lower in sync, rate hike expectations impact safe-haven assets

June 10, according to market reports, influenced by rising expectations of Federal Reserve rate hikes, both Bitcoin and gold, as safe-haven assets, declined simultaneously, and various hedge assets in the market also came under pressure.

According to market data, Bitcoin's price today fell to $61,316, down 2.4% in 24 hours, with a weekly decline of 7.8%; on the same day, gold's price briefly dropped below $4,200 per ounce, a decline of 2%.

Analysts say that this cryptocurrency correction was mainly driven by short squeeze. According to Coinglass data, over $500 million in short positions were liquidated on Sunday, marking the second-largest liquidation in nearly three months;

Additionally, some market observers indicate that the spot market (including the US Bitcoin ETF) is facing ongoing capital outflows. This weak demand also means the market lacks a rebound foundation, and once selling pressure increases, it can easily decline again.

Traders are closely watching tonight's 8:30 p.m. (Beijing time) US CPI inflation report. If the data exceeds expectations, it could reinforce the hawkish stance of new Federal Reserve Chair Kevin Warsh to maintain high interest rates, further suppressing risk assets.

In summary, analysts point out that if gold stabilizes while Bitcoin continues to fall, it will further weaken the core argument of Bitcoin as a macro hedge tool.

Current market liquidity tightening means less "cheap money" in the market. Assets that previously relied on low interest rates and loose monetary environments for growth are generally facing selling pressure.

#比特币 #Gold