Asia Morning Briefing: Are Crypto Assets Traders Ready to Enter the Gold Market?

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So far this year, gold prices have surged nearly 60%, far exceeding Bitcoin's rise of 13%. Analysts believe that gold prices are reasonable, and traders on Kalshi expect gold prices to surpass Bitcoin by 2025. Meanwhile, Hyperliquid data shows that only 34% of crypto assets long positions are held, with 35% of traders making profits, and the average daily profit and loss has dropped below $50,000. Star trader Machi Big Brother's account profit has plummeted from $43 million to a loss of over $13 million, highlighting the risks of excessive leverage. Glassnode reports that the deleveraging scale has reached $19 billion, pushing financing interest rates to a low not seen since 2022, and warns that if new demand does not emerge, Bitcoin prices could fall below $108,000. The rise in gold is driven by geopolitical tensions and bets on interest rate cuts.

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CircleCommunityIntegrityvip
· 10-17 04:49
Hold on tight, we are about to To da moon 🛫
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