Viewpoint: Bitcoin's recent rise is synchronized with gold, but market caution remains

Odaily Planet Daily News: Bitcoin has broken through the $90000 mark for the first time since early March, sparking optimistic expectations in the market that it will finally break free from its long-term association with the rise and fall of US technology stocks. On Tuesday, Bitcoin rose a total of 6.77%, and continued its upward trend at the beginning of the week, reaching $93883 per coin. The US dollar index rebounded slightly after falling to a three-year low on Monday, and the Nasdaq 100 index, although rebounding sharply after Monday's plunge, is still far below its high from late February to early March. It is worth noting that this rise in Bitcoin coincides with the rise in gold. The price of gold hit $3500 per ounce for the first time on Tuesday, but then fell back slightly. Richard Galvin, co-founder of Sydney crypto hedge fund DACM, said that if Bitcoin continues to trade like gold instead of tech stocks, the logic of 'decoupling' will be more convincing. （Bloomberg）