Bitcoin Hits $106.5K, Outshining Gold as “Digital Gold” 😆
Bitcoin surged past $106,500 during early Asian trading hours, fueled by $151M in short liquidations amid a low-liquidity weekend.
The BTC/Gold ratio reached a record high, reinforcing Bitcoin’s status as “digital gold” and a preferred store of value over traditional gold. #MicroStrategy ’s addition to the #Nasdaq 100 further boosted sentiment, with potential passive fund inflows supporting its Bitcoin acquisition strategy. Despite upcoming central bank meetings, Bitcoin remains driven by market sentiment, with a dovish Fed potentially offering more upside.
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