AUS
NZ
UK
CA
USA
IND
Highlights
- Bitcoin struggles to reach new highs, while gold-backed tokens follow gold's upward trend.
- Gold hits record highs, driven by strong demand and economic uncertainty.
- Tokyo inflation accelerates, supporting the Bank of Japan's rate hike strategy.
Bitcoin (BTC) remains steady, just 4.7% away from setting a new all-time high. While the price rally has stalled near record levels, market sentiment remains bullish, fueled by positive momentum from onchain derivatives markets. Bitcoin's price hovered around $104,400 as of Friday morning, with optimism building for potential future growth. Despite recent market dynamics, including President Trump's tariff threats, Bitcoin’s long-term bullish outlook remains intact, with ongoing bullish flows observed on Deribit and CME platforms, signaling continued strength in the cryptocurrency market.
Meanwhile, traditional assets like gold (XAU) have experienced a remarkable rally, reaching a lifetime high of $2,799 per ounce. This surge is linked to increased demand from participants in the London bullion market, particularly those borrowing gold from central banks. As gold prices climb, gold-backed tokens such as Tether Gold (XAUT) and PAXG have mirrored the gains, although they still trade at a slight discount to physical gold. XAUT surged to a lifetime high of $2,796, while PAXG neared the $2,800 mark, signaling a strong connection between digital gold tokens and the rise of traditional gold prices.
In Tokyo, inflation showed signs of acceleration, with the core figure rising by 2.5% in January compared to 2.4% in December. This increase aligns with expectations and further supports the Bank of Japan's ongoing rate hike strategy. The inflation surge, particularly in Tokyo, is seen as a precursor to national trends, indicating possible shifts in Japan's economic outlook and fueling interest in alternative investments like gold and Bitcoin.
