Bitcoin dropped करीब 2% but held up better than precious metals as rising oil prices and hawkish signals from the Federal Reserve triggered a broader risk-off shift in markets.
gold and silver declined more sharply, with gold down roughly 2% since midnight UTC—about double Bitcoin’s losses. That relative resilience pushed the BTC-to-gold ratio up by around 1% over the past 24 hours, with one bitcoin now equivalent to nearly 15 ounces of gold.
Gold’s recent weakness partly reflects its earlier rally. The metal had already surged close to 90% over the past year and was trading near record highs before tensions in the Middle East escalated. That left it in overbought territory, making it vulnerable to a pullback even as geopolitical risks intensified.
Since the conflict began, the performance gap between Bitcoin and gold has widened. Bitcoin—often described as “digital gold”—had previously fallen about 50% since October, leaving it oversold, but has since rebounded and emerged as one of the stronger performers outside energy markets. In contrast, gold has slipped roughly 17% from its January peak, moving closer to bear-market territory.
The macro environment has added to the pressure. The Fed’s latest policy signals struck a more hawkish tone, pushing back against expectations for near-term rate cuts and tightening financial conditions.
Risk assets reacted accordingly. U.S. equities were lower in premarket trading, with the Invesco QQQ Trust down about 0.5%. Crypto-linked stocks also declined, including MicroStrategy, Galaxy Digital, and Coinbase.
At the same time, escalating tensions involving Iran pushed Brent crude prices more than 6% higher in the past 24 hours to around $117 per barrel. The widening spread between Brent and West Texas Intermediate—now at its largest since 2013—signals supply disruptions and logistical constraints, adding to inflationary pressures and complicating the outlook for central banks.
