Gold experienced an unprecedented drop of $2.5 trillion in market cap over 24 hours, eclipsing the total market cap of Bitcoin, which stands at approximately $2.2 trillion. This sharp sell-off demonstrates that even traditionally safe assets like gold are susceptible to drastic market fluctuations.
Investors displayed fear of missing out during a recent gold rally, prompting significant profit-taking actions amid the volatility. Although Bitcoin, referred to as ‘digital gold’, faced a minor 5.2% drop from its peak, the overall sentiment in the cryptocurrency market is increasingly cautious.
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