Bitcoin (BTC) and Ether (ETH) faced heavy losses, falling by 8.5% and contributing to a total crypto market drop of 12.75%. In contrast, gold-backed tokens PAXG and XAUT held steady, only declining slightly by 0.23% and increasing by 0.2%, respectively.
Gold has reached its highest price after eight weeks of consecutive gains, nearing USD 4,023 per troy ounce. Despite resilience in gold-backed crypto, signs suggest potential fatigue, indicating a possible consolidation phase ahead as market dynamics shift.
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