{"id":277184,"date":"2021-06-17T18:20:07","date_gmt":"2021-06-17T15:20:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-slips-below-39k-as-fed-sends-gold-to-6-week-lows\/"},"modified":"2021-06-17T18:20:07","modified_gmt":"2021-06-17T15:20:07","slug":"bitcoin-slips-below-39k-as-fed-sends-gold-to-6-week-lows","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-slips-below-39k-as-fed-sends-gold-to-6-week-lows\/","title":{"rendered":"# Bitcoin slips below $39K as Fed sends gold to 6-week lows"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35a9eb5130e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35a9eb5130e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-slips-below-39k-as-fed-sends-gold-to-6-week-lows\/#Bitcoin_escapes_golds_fate\" >Bitcoin escapes gold&#8217;s fate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-slips-below-39k-as-fed-sends-gold-to-6-week-lows\/#Fighting_all_the_way_dow\" >Fighting all the way dow<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin slips below $39K as Fed sends gold to 6-week lows <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) edged closer to $38,000 support on June 17 as comments from the United States Federal Reserve sparked a mass sell-off for gold.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/920ba1f2-32e7-456a-8da3-979006af4fe5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_escapes_golds_fate\"><\/span>Bitcoin escapes gold&#8217;s fate<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a>\u00a0followed BTC\/USD as it bounced at $38,400 during Thursday, failing to regain $39,000 in what could shape up to be its anticipated &#8220;leg down.&#8221;<\/p>\n<p>Wednesday&#8217;s Fed meeting and subsequent comments from Chair Jerome Powell stopped Bitcoin from drifting higher, taking its toll on progress across cryptocurrency.<\/p>\n<p>At the time of writing, $38,900 formed a focus as resistance set in but a tight wedge of support remained nearby. Data from Binance showed a large wall of bids lined up at $37,000 and above.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/4d27bd28-9446-4684-b005-22136d92bf42.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD buy and sell orders on Binance as of June 17. Source: Material Indicators\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>More conspicuous losses on the day came from gold, however, which sank to a six-week low after the Fed&#8217;s inflation message.<\/p>\n<p>The dollar saw a major boost, but the combination of predicted higher interest rates combined with future tapering of coronavirus measures formed a perfect storm for the precious metal.\u00a0<\/p>\n<p>At the time of writing, XAU\/USD traded below $1,800, having lost almost $100 over the past 24 hours.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/ad8ad49f-bdd5-48aa-9967-c3a317c4ce51.png\"><figcaption style=\"text-align: center;\"><em>XAU\/USD 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Fighting_all_the_way_dow\"><\/span>Fighting all the way dow<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While traditionally adversaries, Bitcoin and gold remain part of the portfolio recommendations for many major investment names. Last week, it was Paul Tudor Jones giving tip-offs to the public, telling mainstream media that a 5% Bitcoin and gold allocation respectively was what he &#8220;wanted&#8221; currently.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin sell-off likely played a key role in boosting gold&#8217;s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eal<\/em><\/strong><\/p>\n<p>Gold bugs nonetheless held their ground. Peter Schiff, founder of SchiffGold, accused the Fed of misunderstanding macroeconomic forces.<\/p>\n<p>&#8220;The only thing transitory about these prices is that they\u2019re getting worse,&#8221; he said in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/schiffgold.com\/peters-podcast\/was-this-fed-meeting-really-hawkish\/\">new episode<\/a> of his Peter Schiff Show.\u00a0 <\/p>\n<blockquote><p>&#8220;We\u2019re transitioning from bad inflation to horrible inflation and the Fed is completely oblivious to what\u2019s going on.\u201d<\/p><\/blockquote>\n<p>For Tudor Jones, Schiff, ever the Bitcoin opponent, had a classic warning.<\/p>\n<p>&#8220;Based on the extremely dovish statements made by Powell during his press conference and recent statements made by Paul Tudor Jones&#8230; should now go &#8216;all-in on the inflation trade,'&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1405249313488478208\">tweeted<\/a>.<\/p>\n<blockquote><p>&#8220;Welcome to the party Paul. But you won&#8217;t truly be all-in until you sell your Bitcoin.&#8221;<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-slips-below-39k-as-fed-sends-gold-to-6-week-lows\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin slips below $39K as Fed sends gold to 6-week lows &#8221; Bitcoin (BTC) edged closer to $38,000 support on June 17 as comments from the United States Federal Reserve sparked a mass sell-off for gold. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin escapes gold&#8217;s fate Data from Cointelegraph Markets Pro and TradingView\u00a0followed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":277185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMmUzOGM4OGYtOTkwZS00OGQ5LWI2ODgtOTg3MDdiYTQwYTNlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,71835,73785],"class_list":["post-277184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-gold","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/277184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=277184"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/277184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/277185"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=277184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=277184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=277184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}