Bitcoin Price Holds Steady as Gold Falls and Silver Craters
Gold and silver prices collapsed on Friday, with gold dropping nearly 9% to $4,877 per ounce and silver plunging 28% to $82 per ounce during New York trading. Meanwhile, Bitcoin held steady, edging up 0.2% to $83,873 after a sharp decline the previous day. Volatility indexes for both metals surged to their highest levels in years, signaling a major repricing by traders as expectations shifted toward tighter monetary policy and a stronger U.S. dollar. The selloff in precious metals coincided with President Trump’s nomination of Kevin Warsh, a critic of loose monetary policy, to head the Federal Reserve, fueling a rally in the dollar. Bitcoin fluctuated between $82,000 and $84,000 on Friday afternoon, remaining down over 6% for the week. Market sentiment around crypto remains cautious, with the Crypto Fear & Greed Index dropping to its lowest point this year, indicating persistent investor anxiety despite some recovery in Bitcoin’s price.
