Insights

Gold is pricing in global financial distress, while oil prices in recession

exchange68September 13, 2024

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Quick Take

During Friday’s session, when Bitcoin touched the low of $19,500 due to the fallout of SVB, further contagion spread into Europe.
Bitcoin is up 25% from the lows, while Gold is up 5%, these assets could be making markets aware of global financial distress, and further fallout is unknown.
Credit Suisse has got major headlines, but we can suppose contagion may spread further as rate hikes at this moment in time are planning to go ahead.
However, crude oil, an indicator of inflation and recession, has plummeted by 15% in the past month.

Gold, Oil, Bitcoin: (Source: Trading View)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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