Bitcoin and gold surge after US elections, but $378 million short squeeze casts doubt on debasement trade
Bitcoin's rally above $81,000 alongside gold has revived speculation that investors are seeking protection against the weakening US dollar. The largest cryptocurrency rebounded from about $75,600 on Nov. 4, while gold futures surged 3.4% to $4,061.10, their biggest daily gain in three months. The dollar also weakened as investors digested the Democrats' sweeping victory in… Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
Key Takeaways
- Bitcoin's rally above $81,000 alongside gold has revived speculation that investors are seeking protection against the weakening US dollar.
- The largest cryptocurrency rebounded from about $75,600 on Nov.
- 4, while gold futures surged 3.4% to $4,061.10, their biggest daily gain in three months.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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