Gold

April

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s (BTC) price retreats towards $69,000 following Wall Street’s opening on April 12, while gold prices surge.</li>
 <li>Bitcoin is in a “re-accumulation phase” with potential volatility expected from the upcoming block subsidy halving.</li>
</ul>
<p>Bitcoin’s price showed a lackluster performance as it retreated towards $69,000 after Wall Street’s opening on April 12. This retreat occurred despite lower outflows from the Grayscale Bitcoin Trust.</p>
<h2 id="gold-outshines-bitcoin">Gold Outshines Bitcoin</h2>
<p>On the other hand, gold prices soared to record highs of $2,431 per ounce on the same day. The price surge in gold was unexpected, considering the current macroeconomic landscape.</p>
<p>United States equities, like <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>, were down, with both the S&amp;P 500 and Nasdaq 100 indexes experiencing around a 1% decrease.</p>
<h2 id="bitcoin-s-re-accumulation-phase">Bitcoin’s “Re-accumulation Phase”</h2>
<p>Bitcoin has been within a narrow range for several weeks, leading to speculation about an upcoming block subsidy halving as a potential source of volatility. Analysts believe that Bitcoin is currently in a “re-accumulation phase”, expected to breakout weeks after the halving.</p>
<p>This phase could last up to five months, often leading to investor frustration due to lack of significant results in their Bitcoin investment immediately after the halving.</p>
<p>The dip in Bitcoin’s price was attributed to <a href="https://crypto.ro/en/exchange/gdax/" rel="noopener noreferrer nofollow">Coinbase</a> by J. A. Maartunn, a contributor to on-chain analytics platform CryptoQuant. He noted a price difference of -$70 compared to <a href="https://crypto.ro/en/exchange/binance/" rel="noopener noreferrer nofollow">Binance</a>. This referred to the varying Bitcoin premiums on major exchanges.</p>
<p>Earlier, there was a report on Bitcoin’s ongoing consolidation around previous all-time highs, a common occurrence before major breakout events.</p>

Bitcoin Value Nears $69K Amid Unsettled Gold Market Uptick

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