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COINTURK NEWS > Bitcoin (BTC) > Bitcoin and Gold Markets Surge as Investors Prepare for Major Economic Data
Bitcoin (BTC)

Bitcoin and Gold Markets Surge as Investors Prepare for Major Economic Data

In Brief

  • Bitcoin trades above its fair value, raising concerns among analysts.

  • Gold prices rise as economic uncertainties prompt increased investment.

  • Upcoming employment data may shift market dynamics significantly.

Ömer Ergin
Ömer Ergin 3 months ago
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Significant developments are occurring in the Bitcoin $102,953 and gold markets. Bitcoin’s market price is trading above its established value range, while gold approaches record levels due to increased investor interest. Eyes are now on the U.S. employment data expected to be released, which may impact market dynamics.

Contents
Bitcoin Valuation and Trading VolumeGold Prices Approach Record Levels

Bitcoin Valuation and Trading Volume

According to CryptoQuant data, Bitcoin’s fair value is estimated between $48,000 and $95,000. However, the current price of Bitcoin is above $98,000, raising concerns about overvaluation. Additionally, Bitcoin’s network activity index has fallen by 15% since its peak in November, dropping to 3,760 points, with daily transactions decreasing by 53% to 346,000.

Despite the Trump family’s efforts to promote Bitcoin investments through World Liberty Financial, there has been no significant impact on the market. Eric Trump’s statements regarding Bitcoin investments have not influenced price movements.

Gold Prices Approach Record Levels

Gold has gained over 9% since the beginning of 2024, with a notable increase of 2.32% in the past week, marking its sixth consecutive weekly gain. The price per ounce has reached $2,882.

UBS highlights gold’s role as a safe haven during uncertain times. Global economic uncertainties and central bank interest rate policies are driving investors towards gold.

The upcoming non-farm payroll data expected on Friday could create significant market reactions. Metrics such as unemployment rates, wage growth, and new job additions may provide clues about the Federal Reserve’s monetary policies, leading investors to adjust their positions in the Bitcoin and gold markets.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 7 February, 2025 - 3:05 pm 7 February, 2025 - 3:05 pm
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