BiyaPay analyst: Risk-off assets collapse across the board, gold plunges 5%, silver crashes 8%, and Bitcoin is not spared
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BiyaPay analyst: Risk-off assets collapse across the board, gold plunges 5%, silver crashes 8%, and Bitcoin is not spared
Gold and silver markets are experiencing sharp adjustments. On Tuesday, spot gold plunged more than 5%, one of the largest single-day drops in ten years; spot silver fell nearly 8%. Analysts widely believe that a rebound in the US dollar and improved market risk appetite triggered profit-taking in precious metals at elevated levels. The surge in gold price volatility over the past week is a typical warning sign, making short-term profit selling difficult to avoid. After a six-week rally exceeding a thousand dollars, gold prices have entered an irrationally overvalued zone with clear signs of market bubbles. Meanwhile, Bitcoin prices also retreated from highs to around $108,000 due to shifts in risk sentiment, moving in sync with gold in the short term, indicating capital may be shifting out of safe-haven assets into higher-risk markets. A BiyaPay analyst noted that the correlation between gold, silver, and Bitcoin is strengthening, and investors can watch for arbitrage opportunities arising from volatility. Using USDT on BiyaPay to trade US stocks, Hong Kong stocks, futures, gold, and digital assets allows flexible portfolio allocation during volatile markets; additionally, BiyaPay offers zero maker fees on spot contracts, providing investors with a more cost-effective trading experience in fluctuating markets.
Navigating Web3 tides with focused insightsTechFlow news, October 22 — The gold and silver markets experienced sharp adjustments today. On Tuesday, spot gold plunged more than 5%, marking one of the largest single-day drops in a decade, while spot silver fell nearly 8%. Analysts widely attribute the sell-off in precious metals to a rebound in the US dollar and improved market risk appetite, triggering profit-taking at elevated levels.
The surge in gold price volatility over the past week was a typical warning signal, making short-term profit realization inevitable. After a six-week rally exceeding $1,000, gold prices have entered an irrationally overvalued zone with clear signs of market bubbles. Meanwhile, Bitcoin prices also retreated from highs to around $108,000 due to shifting risk sentiment, with its short-term movement mirroring that of gold, suggesting capital may be rotating out of safe-haven assets into higher-risk markets.
BiyaPay analysts noted that the correlation among gold, silver, and Bitcoin is strengthening, and investors could explore arbitrage opportunities arising from this volatility. Using USDT on BiyaPay to trade US stocks, Hong Kong stocks, futures, gold, and digital assets allows for flexible portfolio allocation during turbulent markets. Additionally, BiyaPay offers zero maker fees on spot contracts, providing investors with a more cost-effective trading experience amid volatile conditions.
