Gold Rally Coincides With Bitcoin’s Drop Under $88K

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Crypto markets have wiped out all gains this year as Bitcoin fell hard on trade war escalation fears and turmoil in the Japanese bond market. 

Total market capitalization is down 4% on the day as markets have shed more than $200 billion since the weekend. Bitcoin has led the losses, falling briefly below $88,000 during early trading in Asia on Wednesday morning, but it appears America is leading the sell-off.

BTC has now lost 10% in just seven days as it falls back to support levels. However, zooming out shows that it remains within a two-month range-bound channel and continues to consolidate.

Major volatility was predicted for Tuesday following a public holiday in the US on Monday, as markets digest President Trump’s latest round of tariff threats on Europe.


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