Gold surpasses $4,000, Bitcoin experiences short-term correction but long-term outlook remains positive
ChainCatcher news, according to Golden Ten Data, gold has surpassed the $4,000 per ounce mark for the first time, while bitcoin prices have pulled back, mainly due to profit-taking after the crypto market surged 7.7% in less than a week. Nevertheless, institutional interest in bitcoin remains strong. Last week, US spot bitcoin ETFs saw net inflows of over $3 billion, with total net inflows surpassing $60 billion. XS.com market analyst Linh Tran stated that bitcoin's fundamentals remain positive in the short term, and if the Federal Reserve signals a rate cut, bitcoin could explore new price territory in the fourth quarter.
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