Bitcoin sinks with safe haven bets 'clearly favoring gold' after crypto washout
Yahoo Financeยท2025-10-16 17:46
Bitcoin (BTC-USD) has had a rocky first half of October so far. The world's largest cryptocurrency surged to start the month as investors sought a hedge against US government shutdown uncertainty. Last Friday, it plunged from $121,000 as low as $104,000 following President Trump's threat of 100% tariffs on Chinese goods. Bitcoin's descent was particularly notable against the backdrop of gold (GC=F), which has climbed to new all-time highs past $4,200 and is up 16% in the past month. Bitcoin, by compariso ...