Will the rise in gold prices lead to the continuation of Bitcoin’s uptrend?

The price of Bitcoin today reached its highest level on July 6, at the evening of $ 1.5. Under these circumstances, some analysts believe that the growth of interest -sensitive assets, such as gold, can be a positive sign of the continuation of the uptrend in the short -term digital currency.

Bitcoin’s price has risen by more than 4.9 percent, according to Kevin Dusk. Of course, the beginning of tensions in the Middle East, along with the continuation of speculation about the end of the Federal Razo contractionary policy, indicating that there was an inflationary period ahead, led to the rise in gold prices a week before Bitcoin.

“Greg Magdini, director of the derivative department in Amberdata, said:”

Rates are now the biggest driver of the macroeconomic; But surprisingly, rate -sensitive assets, such as gold, saw a rising trend, which is good news for Bitcoin.

He added that the costs of war will traditionally cause inflation, and the Federal Reserve, at the same time as the US economy remains, points to the halting of interest rates. Given the optimism of the market for the approval of Spot ETFs, the current trend will probably lead to rising gold and bitcoin prices. Magdini pointed out

Bitcoin is still more attractive than gold, given its anonymous maintenance, its anonymous maintenance against the government and its immunity from inflation. Considering the optimism about Spot ETFs and Ripple’s lawsuit, in my opinion, the trend of Bitcoin will be very upright.

Analysts of Blockor Seleasens also believe that the current price growth is the result of a possible approval of an ETF Bitcoin ETF on the Spot Market. They pointed out:

Since investors are looking for a boat that Bitcoin provides in economic and geopolitical instability and speculation about the future of bitcoin uncertain ETF ETF ETF, Price action will be quite up.

According to Alex Thorn, the head of the Form Research Unit, the orientation of the optional market makers indicates the possibility of moving to higher prices. Thorne explains that marketers have retained the Short Gamma Position, which forces them to buy at high prices and low -priced sales. Traders are doing this to restore their trading positions to a neutral state, which will unintentionally increase price fluctuations. Thorne added:

With the rise in the price of Bitcoin Spot, Bitcoin optional marketers are increasingly moving to the gamma shorts. When the gamma is shorts and the price of the spot is rising, you have to buy it again in the Spot market to stay neutral. The result of these measures will be the short -term explosive growth of Bitcoin in the near future.