Gold extended its record-breaking rally, surpassing $4,000, even as the U.S. dollar index strengthened early Wednesday. Bitcoin rebounded from Asian session lows near $121,000, trading around $122,750, though still down 1.3% over 24 hours.
The CoinDesk 20 Index fell more than 3% to 4,229 points, while gold-backed tokens XAUT and PAXG followed spot gold gains. In crypto markets, BNB, CAKE, and HASH posted 24-hour gains, signaling selective strength amid broader volatility.
Market analysts view current moves as profit-taking rather than panic. QCP Capital noted: “Fade USD strength, stay long gold and BTC on dips, and brace for data-gap volatility.”
The trends underscore continued investor interest in safe-haven assets and resilient crypto plays despite broader market pressure.
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