Gold Rush Or Bitcoin Boom? China Buys Big, BTC Price Follows
China has acquired five tonnes of gold in the past month, reflecting an aggressive purchasing strategy amid global market uncertainties linked to US-China trade tensions. Bitcoin's price remains stable above $87,000, despite recent fluctuations and a significant import tax announcement by the US. The number of Bitcoin "whale" wallets has increased from 2,030 to 2,100 since February, indicating a growing interest from large investors. Gold prices have risen to $3,401, driven by institutional purchases, particularly from China. The ongoing US-China tariff conflict is pushing investors towards safe-haven assets like gold and Bitcoin. Despite nearly $5 billion exiting Bitcoin ETFs, the cryptocurrency's price stability has attracted global attention. Mixed reports about China's Bitcoin strategy, including potential accumulation and recent sales, add complexity to the market dynamics. Investors are closely monitoring both gold and Bitcoin as safe havens amid economic instability.
