The fall of bitcoin coincides with a negative day on Wall Street, affected by banking.
Gold, for its part, marks a new all-time high, acting as a safe haven asset.
The price of bitcoin (BTC) experienced a correction in recent hours, falling below the support of USD 110,000 in a day marked by risk aversion in traditional markets.
Weakness on Wall Street, fueled by problems at two regional US banks, appears to have dragged down bitcoin, which once again demonstrates its correlation with stock indices.
This volatility in the US market was unleashed after Zions Bancorp and Western Alliance Bancorp will reveal problems with loans linked to alleged fraud.
The event generated a wave of selling in the financial sector that infected the S&P 500 index, erasing the initial gains that had been driven by the artificial intelligence sector.
In contrast, gold shows strength during the day, reaching a new all-time high. This move shows that in the current scenario, investors have preferred the precious metal over digital gold to protect their capital, at least in the short term.
Looking ahead to the end of the month, the market remains expectant before the next meeting of the United States Federal Reserve (Fed). There is speculation about a possible drop in interest rates, a measure that could renew the appetite for assets considered “risky” such as bitcoin and facilitate an eventual recovery in its price.
Overall, forward-thinking bitcoiners remain optimistic. The investor Rubén Romo comment: «Bitcoin touches $108,000 and paper hands shake. Let them sell, we expect patients. If it falls more, we accumulate more, we are not afraid because we are not speculating, we are leaving a failed system. Fiat money is condemned to be worth zero, it’s mathematics. Every fall is an offer to secure your future.